Joseph Albert Corey, Wire Fraud, California 2021

Joseph Albert Corey, 56, Charged in Second Fraud Scheme

SAN FRANCISCO, California – Joseph Albert Corey appeared in federal court today to face an indictment filed December 15, 2020, charging him with wire fraud, conspiracy to commit wire fraud, and money laundering, announced Acting United States Attorney Stephanie Hinds and Federal Bureau of Investigation Special Agent in Charge Craig D. Fair.

According to the new indictment (CR 20-481 RS), between March 2019 and October 2020, Corey engaged in a fraud scheme that involved impersonating different physicians and applying for loans in the physicians’ names. The applications sought loans purportedly to purchase expensive medical devices.

The indictment outlines that once a fraudulent loan application was approved for a loan, Corey directed the lender to deposit the funds in a bank account set up by Corey in a deceptive name, one that closely resembled or was identical to that of a legitimate medical-device supply company. After the lender deposited the money loaned for the medical device purchase into the apparent medical-device supplier’s bank account, Corey withdrew the money and purchased gold.

Corey is also indicted in this district in an earlier federal criminal case charging a different fraud (CR 19-530 EMC). In October 2019, an indictment charged Corey with engaging in a mail fraud scheme that obtained approximately $34,000. The scheme involved Corey opening an account under a false name and depositing checks into the account that were drawn without authority on a legitimate company’s bank account. Corey then purchased gold with the deposited funds.

Corey faces a maximum sentence of 30 years in prison, a $1,000,000 fine, and five years of supervised release once imprisoned. If convicted of a wire fraud or wire fraud conspiracy charge, Corey would be required to pay up to $1,000,000 in fines and face possible supervised release.

The indictment alleges three different executions of this scheme – twice in April 2019 and once in August 2020 – that netted more than $300,000. Corey is also set to appear on April 7, 2021, at 9:00 a.m., for a status conference before the Honorable Edward M. Chen, United States District Judge.

The new indictment (CR 20-481 EMC) charges Corey with one count of conspiracy to commit wire fraud, in violation of 18 U.S.C. § 1349; three counts of wire fraud, in violation of 18 U.S.C. § 1343; and two counts of money laundering, in violation of 18 U.S.C. § 1957. An indictment merely alleges that crimes have been committed, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt.

Source: https://www.justice.gov/usao-ndca/pr/apprehended-fugitive-charged-second-fraud-scheme