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St. Louis County Man Admits $1.6M Bank Fraud Scheme
A St. Louis County man has admitted to defrauding Lowe’s business customers of over $1 million.
Michael W. Burrus, 44, pleaded guilty to one count of conspiracy to commit bank fraud and two counts of bank fraud in front of U.S. District Judge Matthew T. Schelp on Wednesday.
Burrus acknowledged that the conspiracy caused a total loss of $1.6 million, with more than $1 million of that coming from 40 businesses.
According to court documents, Burrus and others obtained stolen information for business customers of Lowe’s, including names, telephone numbers, addresses and credit card account numbers, from April 2020 through November 2021.
Burrus used the information to gain access to the credit card accounts of the businesses, applied for additional credit cards and changed the mailing address on the accounts. He then made purchases with the credit cards, all without the knowledge and consent of the businesses.
Burrus is scheduled to be sentenced on June 29 and faces up to 30 years in prison, a $1 million fine, or both on each charge. He will also be ordered to repay the money.
The U.S. Postal Inspection Service and the U.S. Secret Service investigated the case, with Assistant U.S. Attorney Edward Dowd III prosecuting the case.
Key Facts
- State: Missouri
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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