A Milwaukee man with a history of bank fraud around Southeast Wisconsin is facing new charges in Racine County.
Kenneth Tipton was charged Tuesday in Racine County Circuit Court after being returned on a $10,000 warrant with one felony count of fraud against a financial institution. If convicted, he faces up to 10 years in prison and/or up to $25,000 in fines. Because he is a repeat offender, he could have an additional four years added to his sentence.
Criminal Complaint: Fraud against a financial institution
According to the criminal complaint, Tipton on March 3, 2022, opened checking and money market accounts at Johnson Bank with checks in the amounts of $75,000 drawn on a Wells Fargo account and $60,000 drawn on a Chase Bank account respectively. On March 4, 2022, he walked into Johnson bank and withdrew $11,000 in cash from his money market and three cashier’s checks totaling more than $37,000.
Police say the two checks Tipton deposited to establish his accounts were returned to Johnson Bank as “account closed” and charged back. Bank surveillance clearly depicts Tipton at branches in Racine and Mount Pleasant.
Court records indicate that Tipton has a variety of felony fraud convictions stretching back to 1997 in Milwaukee, Ozaukee, and Waukesha counties.
Tipton remains in the Racine County Jail on a $400 cash bond and a $5,000 signature bond. He will next be in court May 4 for his preliminary hearing.
Stay up to date with emergency, crime and police encounters. The Racine County Eye and Kenosha Lens is your source for local news that serves our diverse communities. Subscribe today and never miss a beat. Visit our Police & Fire section to read more.