A shocking case of bank fraud has rocked the streets of Memphis, Tennessee. Talmadge Garner, a man with a history of deceit, has pleaded guilty to committing bank fraud against financial institutions in the Memphis area.
According to the indictment, Garner and his co-conspirators, participated in a deceptive scheme to defraud Orion Federal Credit Union, SunTrust Bank and Regions Bank from August 2011 through February 2016.
The fraud consisted of opening new accounts and/or using their existing accounts to deposit fraudulent checks. Garner also stole the identities of individuals to pass fraudulent checks to the banks.
Nearly 200 fraudulent closed accounts totaling $110,831.95 were deposited into accounts at the banks. Immediately after deposits were made in the banks, withdrawals were made by Garner and others not named in the indictment.
Garner would give co-conspirators some of the proceeds withdrawn from the banks.
Talmadge Garner pled guilty to two counts of bank fraud during the five-year period. The maximum penalty for bank fraud is 30 years in prison and a $1,000,000 fine.
The case was investigated by the United States Secret Service. Assistant U.S. Attorney Damon Keith Griffin is prosecuting this case on the government’s behalf.
The sentencing hearing will be held on September 28, 2017. Garner’s fate hangs in the balance as he awaits the verdict.
Garner’s actions have left a trail of financial devastation, with nearly $112,000 in fraudulent transactions.
The people of Memphis demand justice, and it is up to the courts to deliver it.
Key Facts
- State: Tennessee
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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