Man sentenced to federal prison for bank fraud scheme involving minors
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PORTLAND, Oregon (KPTV) — The U.S. Attorney’s Office for the District of Oregon announced a Portland man was sentenced to federal prison Tuesday for a bank fraud scheme where he would recruit others, including minors, to deposit fraudulent checks into their personal bank accounts and withdraw cash.
Marcus Raiford, 22, was sentenced to 12 months and one day in federal prison and five years’ supervised release. He was also ordered to pay $75,681 in restitution.
According to court documents, beginning in August 2017 and continuing until at least September 2018, Raiford and others recruited individuals, primarily minors, young adults, and students at various local high schools, to deposit counterfeit checks at banks and credit unions throughout the Portland area.
Raiford and his accomplices used social media platforms, including Snapchat and Instagram, to recruit the minors and young adults, promising significant cash payments in exchange for their participation in the scheme.
Also according to court documents, Raiford and others requested the recruits’ identification, ATM card, and pin number so counterfeit checks could be made payable to them and deposited into their accounts.
Raiford and his accomplices then withdrew the money from ATMs or made point of sale purchases with the ATM cards at various commercial businesses. Over the course of the conspiracy, Raiford and his accomplices deposited more than $150,000 in counterfeit checks.
On December 19, 2018, a federal grand jury in Portland returned a 14-count indictment charging Raiford and his accomplices with conspiring to commit bank fraud, bank fraud, and money laundering. On August 26, 2020, Raiford pleaded guilty to the conspiracy charge.
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