The leader of a multi-state fraud conspiracy that caused victims over $1.5 million in losses may spend up to 30 years in prison without the possibility of parole.
The U.S. Attorney’s Office for the Eastern District of Michigan says Nazaly Mason, who is originally from Maryland, was convicted of conspiracy to commit bank fraud after pleading guilty to charges.
The 33-year-old admitted at the hearing that he masterminded the scheme. He said that he provided his subordinates with fake identification documents and stolen personal identifiable information (PII) of several of the victims.
Smith said that he also trained his team to memorize the stolen personal information, open bank accounts using the victims’ names and deposit stolen checks to these accounts.
Citing information from the plea agreement, CBS News reports that the scheme took place between May 2022 and December 2023. One of Smith’s subordinates, Shannon Kurrie, also pleaded guilty to one count of conspiracy to commit bank fraud and was convicted earlier this month.
Aside from potential jail time, Smith also faces up to five years of supervised release following any term of imprisonment and a maximum fine of $1 million.
He will be sentenced before United States District Judge Mark A. Goldsmith after a presentence report is prepared.
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The post Maryland Man Masterminds $1,500,000 Bank Fraud Scheme, Trains Team To Memorize Identities and Open Fake Accounts appeared first on The Daily Hodl.
