The Justice Department issued the following statement.
A Lamar County man pleaded guilty to conspiracy to commit bank fraud which resulted in the loss of over $1 million.
According to court documents and information presented to the Court, beginning as early as January of 2021, Aaron Brown, 42, conspired with multiple individuals to use his auto sales company and companies owned by his co-conspirators to engage in a systematic check kiting scheme. As part of the conspiracy, he and his co-conspirators would continuously issue and deposit nonsufficient fund checks into their companies’ bank accounts. Many of these checks indicated that they were for vehicle sales that the conspirators knew had not actually occurred.
Prior to the initiation of the scheme, between May and December of 2020, Brown’s auto sales company received a total of 163 incoming checks and issued a total of 50 checks. This resulted in over $5 million in deposits and withdrawals. However, at the height of the check kiting scheme, between June and August of 2021, the company received a total of 1,204 checks and issued 1,161 checks to just one of the companies owned by his co-conspirators. The total deposits and withdrawals for that three-month period exceeded $60 million. Ultimately, the financial institutions discovered the scheme and stopped payment. However, one of the financial institutions suffered a loss of over $1 million.
Brown pleaded guilty to conspiracy to commit bank fraud. He will be sentenced on October 22, 2024, and faces a maximum sentence of 30 years in prison and a $1 million fine. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
U.S. Attorney Todd W. Gee and Special Agent in Charge Robert Eikhoff of the Federal Bureau of Investigation made the announcement.
The case was investigated by the Federal Bureau of Investigation.
The case is being prosecuted by Assistant United States Attorney Jonathan Buckner.
19 comments:
Oh what a tangled web we weave/When first we practice to deceive.
Where in the state of Mississippi is a county named “Lamar”? Is it anywhere near our two well known and well respected colleges ,Ole Miss, and Miss. State university.?
Lamar is just west of Forrest County (Hattiesburg). You need to work on your MS geography!
Attn 6:32. This may came as a shock to you, but Lamar County Ms. Is very close to THE UNIVERSITY OF SOUTHERN MISSISSIPPI. You know, the place where (currently unconvinced) Brett Farve lives.
Check kiting is fairly easy to pull off if you understand how bank transactions work...until it catches up to you.
Kinda like cheating on your spouse.
Lamar County is one of the top counties in The United States for welfare fraud. Tens of millions of Mississippi taxpayer money has ended up there.
It contains West Hattiesburg, MS
As always, Google is your friend.
You can Google it. No, it’s not.
Good lord, do you own a computer? Are you online? Have you heard of "Google". Look it up, basement boy.
@ 6:32 Lamar is immediately SW of Hattiesburg.
A piker next to Lamar.
"You know, the place where (currently unconvinced) Brett Farve lives."
Brett is certainly convinced that he will not be convicted. Lamar, on the other hand....
Does anyone have a picture of this person?
Attn 8:00 AM. I am pretty sure the sheriff department has pictures of all involved.
This is no different than what the banks do when you get a loan.
There may be ways to get away with some forms of bank theft, but none of the names mentioned in this article are smart enough to pull it off. Once again, Mississippi leads the nation in ignorance.
"the bank will never know" said more than a few felons over the years.
About the only for this felon, is he won't be going to Parchman.
I find it interesting they didn't list the banks in the case. It looks like they have in a number of other cases.
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