A US financial institution worker employed to guard folks from fraud ended up stealing $2 million from prospects, in keeping with the U.S. Division of Justice.
The DOJ says 36-year-old Chinese language nationwide Yue Cao used his place as a quant analytics supervisor at an Ohio financial institution’s fraud division to steal the identities of aged prospects who weren’t enrolled within the financial institution’s on-line companies.
He created e-mail addresses for greater than 100 victims, signed them up for digital banking companies, accessed their accounts and transferred their funds to his personal private financial institution and bank card accounts.
Cao additionally opened brokerage accounts and engaged in choices buying and selling with the stolen funds.
Cao’s victims, ranging in age from 90 to 103 years outdated, have been residents of New York, Pennsylvania, Connecticut, Washington and Ohio.
After a five-day trial, a jury discovered Cao responsible on ten counts of financial institution fraud, 4 counts of aggravated identification theft and one rely of cash laundering.
He faces as much as 30 years in federal jail, and will probably be sentenced at a later date that has but to be scheduled.
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