Sheri L. Reeves, Aiding $565,000 Interstate Theft, Missouri 2020

CAPE GIRARDEAU – A Dunklin County woman is facing serious charges after allegedly aiding in the theft of a whopping $565,000 from a victim located in Texas.

Sheri L. Reeves, 53, of Kennett, appeared in U.S. District Court in Cape Girardeau Wednesday to face charges accusing her of bank fraud, wire fraud, and conspiracy to commit wire and mail fraud.

Reeves pleaded not guilty in court Wednesday, according to officials. The indictment says she acted as a money courier or ‘money mule,’ someone who transfers money obtained by fraud to others.

On June 9, 2020, Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas that she would later use to receive the proceeds of various fraud schemes executed by others, the indictment says. She also added the name of another person to the account. That person was the victim of an account take-over fraud, in which conspirators used fraudulently-obtained account information to access the account and transfer $565,000 to Reeves’ account, the indictment says.

Reeves sent the proceeds from the various frauds to others using cashier’s checks obtained in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM in Dunklin County, the indictment says. She also sent the account information to others and withdrew or attempted to withdraw the proceeds in cash or by check, it says.

The bank fraud charge is punishable by up to 30 years in prison, a fine of up to $1 million, or both. The other charges are punishable by up to 20 years in prison and a $250,000 fine.

Charges set forth in an indictment are merely accusations and do not constitute proof of guilt. Every defendant is presumed to be innocent unless and until proven guilty. The case was investigated by the FBI. Assistant U.S. Attorney Paul Hahn is prosecuting the case.

Residents are warned to be on the lookout for money mule schemes and report any suspicious activity to the authorities. If you believe you are participating in a money mule scheme, please contact the FBI’s Internet Crime Complaints Center at ic3.gov or contact your local FBI office.

Related Federal Cases