BOSTON – Two Chicago residents were arrested and charged on May 11, 2016, in connection with defrauding banks out of $1.5 million in an airplane and car loan scheme.
James Dusten Miller, 29, and Latoya Monique James, 35, were charged with conspiracy to commit bank fraud and bank fraud, and conspiracy to commit money laundering and money laundering. Miller and James were arrested yesterday in Chicago and detained pending a detention hearing tomorrow in U.S. District Court in Chicago.
According to the criminal complaint, beginning in January 2014 through January 2016, Miller and James, along with at least two other co-conspirators, obtained and attempted to obtain multiple fraudulent airplane and car loans from banks in multiple states, including Massachusetts. In order to commit these frauds, Miller, James, and their co-conspirators allegedly used false and stolen identities.
In one instance, Miller, James, and their co-conspirators obtained a fraudulent airplane loan for $382,500 from Commerce Bank in Worcester by using at least one stolen identity. Miller and James laundered the proceeds of the airplane loan through several bank accounts created in the name of a fictitious entity. The proceeds were then allegedly distributed into financial accounts controlled by the defendants and their co-conspirators, and used to purchase items such as luxury cars and a watch.
The charges of bank fraud and conspiracy to commit bank fraud each provide for a sentence of no greater than 30 years in prison, five years of supervised release and a fine of $1 million or twice the gross gain or loss, whichever is greater. The charges of money laundering and conspiracy to commit money laundering provide for a sentence of no greater than 20 years in prison, three years of supervised release and a fine of $500,000 or twice the value of the property involved in the transaction, whichever is greater.
Actual sentences for federal crimes are typically less than the maximum penalties. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.
Defendant: James Dusten Miller (29), Latoya Monique James (35)
Criminal Charges: Conspiracy to commit bank fraud and bank fraud, and conspiracy to commit money laundering and money laundering
City and State: Chicago, Illinois
Date: May 11, 2016
Sentence or Outcome: Pending detention hearing
Dollar Amounts: $1.5 million in fraudulent loan proceeds, $382,500 in fraudulent airplane loan
Defendant’s Name: James Dusten Miller, Latoya Monique James
Related Federal Cases
- Ryan Miller and Dusten James Miller, Bank Fraud, Massachusetts 2018 · Illinois
- James Battles Banks Over $5.8B Overdraft Rip-Off, Washington, 2023 · Illinois
- John James, Cocaine Conspiracy, Massachusetts 2023 · Washington
- Tanya James, Unlawful Reentry of a Deported Alien, Massachusetts 2024 · North Carolina
- Tanya James, Illegal Reentry, Massachusetts 2024 · North Carolina
Key Facts
- State: Massachusetts
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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