Lozaro Sopo Lopez, Bank Fraud, Oregon 2024

Bank Fraud Scheme Unravels: Lozaro Sopo Lopez Sentenced to 40 Months in Prison.

PORTLAND, Ore.—In a stunning display of law enforcement tenacity, Lozaro Sopo Lopez, 26, of Miami, Florida, has been sentenced to 40 months in federal prison and three years supervised release for his role in a large scheme to defraud banks located in Oregon and elsewhere of more than $900,000.

Sopo Lopez is the seventh defendant sentenced for crimes associated with the scheme beginning in at least January 2017 and continuing until January 2018. Two other co-conspirators have been indicted in the District of Oregon for related criminal conduct, but remain at large.

According to court documents, Sopo Lopez and his co-conspirators recruited individuals to deposit fraudulent checks at various banks. These individuals—referred to as ‘mules’—were given checks with their names typed or written on them and driven to banks to attempt deposits. Sopo Lopez and his co-conspirators instructed the individuals to use coded messages to communicate their success or failure at the banks.

When the co-conspirators received proceeds from the fraudulent deposits, they would make cash deposits into Florida-based bank accounts. These deposits were structured to avoid detection by law enforcement. Shortly thereafter, other co-conspirators withdrew the cash in Florida. In total, the scheme resulted in an estimated loss of at least $911,444 to various banks and credit unions in Oregon and Washington.

Sopo Lopez was also ordered to pay $652,926 in restitution and $22,888 to satisfy a forfeiture money judgement. This case is a stark reminder of the devastating impact of bank fraud and the importance of law enforcement efforts to combat it.

The investigation was conducted by Homeland Security Investigations (HSI), Vancouver Police Department, and Portland Police Bureau, with prosecution by Julia E. Jarrett and Seth D. Uram, Assistant U.S. Attorneys for the District of Oregon.

Mandatory Facts:

Defendant/Respondent: Lozaro Sopo Lopez

Criminal Charges: Bank Fraud

City and State: Miami, Florida

Date: Today

Sentence or Outcome: 40 months in federal prison and three years supervised release

Dollar Amounts: $900,000, $911,444, $652,926, $22,888

Source: https://www.justice.gov/usao-or/pr/final-defendant-sentenced-federal-prison-role-interstate-bank-fraud-scheme