Terrance August, Conspiracy to Commit Wire Fraud, Louisiana 2024

A Baton Rouge man has been sentenced to 70 months in federal prison for his role in a wire fraud conspiracy that swindled financial institutions out of nearly $180,000.

According to court documents, 48-year-old Terrance August, a resident of Baton Rouge, conspired with others to commit wire fraud and defraud financial institutions by using the personal identifying information (PII) of bank customers. The PII included names, social security numbers, and dates of birth, which were used to obtain access to account information.

Once inside the accounts, August and his co-conspirators contacted financial institutions, impersonating the victims and falsely representing themselves as the bank customers requesting changes to their accounts. In some cases, they changed the phone number, mailing address, and statement preferences on the customers’ accounts, while in others, they enrolled the victims in online banking without their knowledge or consent.

August and his co-conspirators then accessed the victims’ accounts and initiated interstate wire transfers of funds from the victim accounts to accounts held by August and other co-conspirators. The funds were withdrawn as cash at multiple ATMs and bank branches located in the Middle District of Louisiana, with August and his co-conspirators retaining a portion of the stolen funds for their personal enrichment and financial gain.

This case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney Kristen Lundin Craig. August was sentenced to serve three years of supervised release following his term of imprisonment and ordered to pay $179,976.99 in restitution to financial institutions.

U.S. Attorney Ronald C. Gathe, Jr. announced the sentencing, stating that August’s actions were a serious threat to the financial security of innocent individuals. The sentence sends a strong message that wire fraud will not be tolerated and will be prosecuted to the fullest extent of the law.

August’s conviction and sentencing are a reminder of the importance of protecting personal identifying information and being vigilant against scams and financial crimes. Residents are urged to remain cautious and report any suspicious activity to the authorities.

Related Federal Cases