TAMPA–A U.S. District Court judge has sentenced a man to prison in a case that involved a combined hundreds of thousands of dollars in losses for the combined credit unions involved.

U.S. District Judge Steven D. Merryday sentenced Igor Shushpanov, 39, of Tampa) to 15 months in federal prison for bank fraud and also ordered pay $407,398 in restitution, which represents the loss amount. The court also ordered Shushpanov to forfeit $303,093.26 in proceeds he obtained through his criminal activity. Shushpanov pleaded guilty, according to the U.S. Attorney’s Office for the Middle District of Florida.

According to court documents, from as early as February 2017, until approximately July 30, 2022, Shushpanov opened checking accounts at multiple credit unions that were members of the Federal Home Loan Bank system. 

‘Up to the Credit Limit’

“Shushpanov then obtained credit cards or personal lines of credit from the credit unions. Upon receipt of the credit cards or personal lines of credit,” the U.S. Attorney said. “Shushpanov made purchases or cash advances up to the credit limit. Shushpanov would then purportedly pay off the entire balance by sending worthless checks from accounts under his custody and control.

“Between the time that the financial institutions credited Shushpanov’s credit account balances, and the worthless checks were returned for insufficient funds, he would again max-out his credit cards and personal lines of credit resulting in higher negative credit account balances,” the U.S. Attorney continued. “Shushpanov continued perpetrating this scheme by repeatedly depositing worthless checks and making subsequent credit card or personal line of credit purchases. He then filed a bankruptcy petition to avoid paying the credit unions he defrauded.”

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