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Bank Fraud Scheme Lands Ki Jang 21 Months in Prison
A 60-year-old Los Angeles man has been sentenced to 21 months in prison for conspiring to commit bank fraud in the Sacramento area and elsewhere, U.S. Attorney Phillip A. Talbert announced.
Ki Jang, 60, of Los Angeles, was sentenced today for conspiring to commit bank fraud.
According to court documents, between January 2017 and September 2017, Jang participated in a nationwide check kiting ‘bust out’ scheme in order to obtain cash from banks. The scheme’s participants obtained a real Republic of Korea passport that was altered to bear a new photograph and name, which they used to open bank accounts with a small amount of cash.
The scheme resulted in an actual loss of $273,800 to the banks, and a total intended loss of $466,318 based on additional, unsuccessful bust-out attempts, authorities said.
Korean nationals Hee Soung Oh, 47; Jong Eun Lee, 48; and Kyung Min Kong, 55, were previously sentenced: Oh to two years and nine months, Lee to 22 months, and Kong to seven years and nine months in prison.
Charges are pending against Bon Soke Hong, who was indicted on Oct. 21, 2021. The charges are only allegations; he is presumed innocent until and unless proven guilty beyond a reasonable doubt.
This case is the product of an investigation by the IRS Criminal Investigation and the Federal Bureau of Investigation. Assistant U.S. Attorneys Audrey B. Hemesath and Whitnee Goins are prosecuting the case.
MANDATORY FACTS:
1. Defendant/respondent real full name or legal entity name: Ki Jang
2. Exact criminal charges: Conspiring to commit bank fraud
3. City and state: Sacramento, California
4. EXACT DATE with month/day/year: Today (no exact date mentioned)
5. Sentence or outcome: 21 months in prison
6. Dollar amounts: $273,800 (actual loss) and $466,318 (total intended loss)
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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