A Missouri man has been sentenced to three years in prison for his role in a fraudulent scheme involving bank accounts and corporate tax refunds. Lyell Champagne Jr., of St. Louis, was sentenced by U.S. District Judge Sarala V. Nagala on Tuesday in a Connecticut federal court. The sentencing also includes three years of supervised release and restitution of $111,738, according to U.S. Attorney Vanessa Roberts Avery.
Missouri Bank Fraud Trial : Details of the Fraud Schemes
Champagne’s criminal conduct involved two separate fraud operations. In one scheme, Champagne conspired with co-defendant Kristian Gupta to steal online bank account credentials. Using personal identifying information from account holders, they planned to transfer the stolen funds to cryptocurrency exchange accounts under their control. Their plan, however, was thwarted when undercover agents caught them trying to recruit bank insiders to facilitate the fraudulent transfers. No funds were successfully siphoned in this case.
