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Chinese National Sentenced to Prison in Nearly $1 Million Bank Fraud/Identity Theft Scam
In a shocking case of bank fraud and identity theft, Xin Gu, a 29-year-old Chinese national, has been sentenced to 54 months in federal prison. Gu was convicted of conspiracy to commit bank fraud and aggravated identity theft in a federal court in Houston, Texas.
According to court documents, Gu posed as someone else at a Chase bank in Houston, presenting a fraudulent passport with his picture and someone else’s information, as well as other fraudulent identification documents bearing the victim’s name and identifying information. At the time of his arrest, Gu also had receipts and withdrawal slips for other withdrawals made on the victim’s account that same day.
The scam unfolded when a fictional authorized user was added to the victim’s business and personal accounts at a Chase Bank branch in New York without the victim’s knowledge. Subsequently, another woman posing as that fictional account user began making withdrawals on the victim’s account in Houston.
Gu and the woman made withdrawals from the victim’s business and personal accounts totaling approximately $980,000 in a seven-day period. One of those purchases included a $236,000 Mercedes Benz purchased with a cashier’s check. Items found in the Mercedes allowed Secret Service agents to determine Gu knew the woman posing as the fictional account user.
U.S. District Judge Gray H. Miller handed Gu 30 months for the bank fraud conviction and an additional 24 months on the aggravated identity theft, which must be served consecutively for a total sentence of 54 months in federal prison. Gu is expected to face deportation proceedings following his release from prison.
The investigation into the conspiracy is ongoing, with the United States Secret Service leading the charge. Assistant United States Attorneys John Jocher and Andrew Leuchtmann prosecuted the case.
Gu has been in custody since the date of his arrest and will remain there pending transfer to a U.S. Bureau of Prisons facility to be determined in the near future.
Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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