ATLANTA – Two Georgia men are headed to federal prison after admitting to a brazen scheme that siphoned over $2 million from Synchrony Bank. Franck Davidoff, 34, of Milton, and Dwight Pearson, 49, of Johns Creek, used stolen identities and manipulated corporate accounts to line their pockets, leaving a trail of financial wreckage in their wake.
The pair’s operation, running from January 2017 until their arrest in October 2018, revolved around opening fraudulent merchant accounts at Synchrony Bank using information pilfered from legitimate businesses. They specifically targeted companies in Florida, including S&G Carpet Stores, a real business whose CEO’s information was used without consent to create a bogus account. Any funds deposited into these accounts were immediately diverted to accounts controlled by Davidoff and Pearson.
But the scheme didn’t stop at hijacked business identities. Davidoff and Pearson went further, establishing $600,000 in lines of credit for 57 individuals – individuals whose personal information they’d also stolen. These lines of credit were disguised as advance financing for purchases from the fraudulently-opened accounts, allowing the pair to access even more funds. They zeroed in on residents in affluent Florida neighborhoods, maximizing their potential for illicit gain.
The U.S. Attorney’s Office charged the men with wire fraud conspiracy, 13 counts of wire fraud, and seven counts of aggravated identity theft. Both Davidoff and Pearson ultimately pled guilty to the wire fraud conspiracy and aggravated identity theft charges. The U.S. Secret Service, along with the Duluth Police Department, played a crucial role in dismantling the criminal enterprise.
Davidoff received a sentence of six years and six months in prison, followed by three years of supervised release, and was ordered to pay $2,379,178.19 in restitution. Pearson received a harsher sentence of seven years in prison, also followed by three years of supervised release, and the same restitution order. “These two defendants not only harmed the bank, but the pair also victimized countless businesses and individuals by stealing their information and posing as them,” said Acting U.S. Attorney Kurt R. Erskine.
“The defendants in this case deliberately defrauded scores of innocent citizens out of millions of dollars for their own personal gain,” added U.S. Secret Service Special Agent in Charge Steven Baisel. The investigation highlights the ongoing threat of financial fraud and the importance of collaboration between federal and local law enforcement agencies. This case was prosecuted by Special Assistant U.S. Attorney Diane C. Schulman and former Assistant U.S. Attorney Cassandra Schansman.
Related Federal Cases
- Anthony Jermaine Robinson, Bank Fraud, Georgia 2024 · Georgia
- Georgia Man Pleads Guilty to Fraudulent Identity Theft & Bank Fraud Scheme · Georgia
- Larry Malone Sentenced for Bank Fraud, Bainbridge GA, 2014 · Georgia
- Richard Michael Colbert, Bank Fraud, Florida 2024 · Texas
- Kevin R. Griffin, Bank Fraud, FL 2024 · Texas
Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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