A Racine man is facing felony fraud charges for his participation in a scheme that defrauded Educators Credit Union of a total of $30,000.
Kameron Simpson was charged Wednesday in Racine County Circuit Court with one felony count of fraud against a financial institution as a party to a crime. If convicted, he faces up to six years in prison and/or up to $10,000 in fines. Because Simpson has previous convictions, he could have additional time added to any sentence he receives.
The scheme against Educators
According to the criminal complaint, a three-part fraud scheme was run against Educators Credit Union that involved the credit union’s popular mobile check deposit feature and its “Fast Cash” benefit. The process involves first using an individual’s login credentials for their Educators account to order checks on their account. An individual then deposits a check drawn on that account, via the mobile banking app, into a different person’s account. As the “Fast Cash” feature makes a certain portion of the amount of the check available right away, that person would visit an ATM and withdraw the money. Participants were recruited through Snapchat and Facebook under the guise of making extra money.
Police say Educators Credit Union was defrauded of over $30,000 over the course of the operation, and Simpson was one of the individuals recruited through Snapchat to take part in the final leg of the scheme. On January 29, 2021, a fraudulent check in the amount of $2,250 was deposited into his account, and he withdrew $1,440 that same day.
When officers interviewed Simpson, he said a woman told him he could make extra money, the complaint reads. Though he never made the deposit and never saw the check, he admitted to providing his banking credentials to the woman. Instead of splitting the money evenly with the woman, Simpson said he kept it all. Police told Simpson he’d committed fraud and would need to make restitution with Educators Credit Union, but he still hadn’t done so by October 2021.
Simpson was assigned a $1,000 cash bond and will next be in court on May 19 for his preliminary hearing.
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