Lagardo Wright, 21, of Fairview Heights, Illinois, was sentenced to 27 months in federal prison today for orchestrating a large-scale bank fraud scheme.
From at least February 2019 until February 2020, Wright led a team of coconspirators that printed counterfeit checks, deposited them into other people’s bank accounts, and withdrew the available proceeds before the banks could determine the checks were counterfeit. Their scheme targeted at least ten different financial institutions and caused losses over $95,000.
During the conspiracy, Wright’s main objective was finding valid bank accounts to exploit. Because the banks closed each account for fraud after his counterfeit checks inevitably bounced, Wright needed a constant supply of new account holders with valid bank accounts to perpetuate his scheme. He solved this problem by developing and directing a network of “recruiters.” These middlemen convinced naive account holders to turn over their online banking information, including usernames, passwords, and pin numbers, in exchange for the promise of money.
Whenever a recruiter found an account holder willing to participate, Wright accessed the account holder’s bank account online, adjusted deposit and withdrawal limits, printed counterfeit checks, and arranged for as many fraudulent transactions as possible before the banks caught on and closed the account. Then he waited for his recruiters to bring him a new account or tried to solicit some on his own.
Wright…
