GREEN BAY, Wis.–Eight people have been charged with crimes related to a large-scale fraud scheme that targeted local credit unions.
According to the Brown County Sheriff’s Office it initially investigated the fraud scheme that between Oct. 17, 2024, and Nov. 19, 2024, when several Fox Communities Credit Union members provided online banking information to scammers who had posed as representatives of the credit union’s fraud team.
According to the complaint, Fox Communities Credit Union lost a total of $192,195.80 after reimbursing victims. Community First Credit Union lost $23,144.45 to the same scam, the complaint said, the Green Bay Press reported.
27 Suspects ID’d
“After gaining access to a member’s account, the scammer would transfer funds to one of 27 suspects identified in the investigation, the complaint said,” according to the Green Bay Press. “Once the funds were deposited, the suspects quickly withdrew or moved the money through ATMs, additional transfers or purchases.”
The report said investigators described the scheme as “a coordinated and systematic attack on numerous financial institutions” by “the same criminal enterprise.” A large portion of the stolen money was turned over to “leadership within the criminal enterprise,” the complaint added.
One of the individuals has been charged with recruiting “money mules” and co-conspirators through Facebook.
Looking for Quick Money
“He targeted individuals looking to make quick money and instructed them to open accounts at FCCU, CFCU and Capital Credit Union “for the sole purpose of facilitating fraudulent financial transactions,” according to the Green Bay Press.
That individual told police he was recruited by another man who acted as an intermediary between a Chicago-based organizer and local organizers.
All eight suspects are currently being held in jail.
