A septuagenarian is going through months in jail after admitting to stealing greater than $1 million from the US authorities.
In accordance with the U.S. Division of Justice, 71-year-old Eric Banks has pleaded responsible to stealing a test drawn by the US Treasury Division to a New York-based enterprise.
The DOJ says Banks stole a U.S. Treasury test value roughly $1.13 million. He then opened a checking account within the title of the New York agency the test was drawn to and deposited the test to the account.
And that was only the start.
“Banks then performed a number of unlawful cash transactions designed to hide the supply of the funds from the stolen Treasury test.”
Banks additionally helped seven different people launder cash that was additionally stolen from the US authorities.
“As well as, Banks created a second faux entity and opened a checking account within the title of this second faux entity. Different people who obtained and deposited stolen U.S. Treasury checks transferred over $1.3 million to this checking account created by Banks.”
The seven people that Banks helped launder cash for are going through separate prices of collectively stealing roughly $7.44 million in US authorities funds.
Moreover the 14 months that Banks will spend in jail, he may also bear three years of supervised launch.
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