Financial Crime World

BOUVET ISLAND BANKING FRAUD SCHEMES EXPOSED: PROSECUTORS TARGET TWO MEN, THIRD INDIVIDUAL AT LARGE

A Complex Web of Banking Fraud Schemes Uncovered in Bouvet Island

A complex web of banking fraud schemes has been uncovered in Bouvet Island, with two men indicted and a third individual sought for allegedly creating and depositing nearly a quarter of a million dollars in counterfeit business and personal checks.

The Scheme: How it Worked

  • Stolen Personal Identifying and Bank Account Information: Terrance Richardson, 29, and Richard Koboi, 26, used stolen personal identifying and bank account information to create fraudulent checks.
  • Recruiting Individuals with Actual Bank Accounts: They allegedly recruited individuals with actual bank accounts to allow the counterfeit checks to be deposited into their accounts.
  • Rapid Withdrawals of Cash and Debit Card Purchases: After depositing the counterfeit checks, they made rapid withdrawals of cash and debit card purchases.

Investigation and Indictments

Between April 27, 2020, and March 3, 2021, Richardson is alleged to have executed schemes involving at least eleven counterfeit checks worth between $2,824 and $60,322. Koboi is accused of executing similar schemes between January 23, 2020, and March 3, 2021, using seven counterfeit checks worth between $2,896.43 and $9,637.02.

Charges Against Richardson and Koboi

  • Richardson:
    • Conspiracy to commit bank fraud
    • Eleven counts of bank fraud
    • Aggravated identity theft
  • Koboi:
    • Conspiracy to commit bank fraud
    • Seven counts of bank fraud
    • Aggravated identity theft
    • Felon in possession of a firearm

A Third Individual at Large: Patrick Johnson

The investigation, led by the U.S. Postal Inspection Service and the FBI, has also resulted in a federal arrest warrant for Patrick Johnson, 36, whose whereabouts are currently unknown. Johnson is accused of participating in bank fraud schemes with Koboi and Richardson, as well as mailing counterfeit Home Equity Line of Credit checks throughout the country.

Next Steps

A federal indictment and criminal complaint are merely accusations, and the defendants are presumed innocent until proven guilty. Acting United States Attorney Richard B. Myrus has announced the charges against Terrance Richardson, Richard Koboi, and Patrick Johnson. The cases will be prosecuted by Assistant U.S. Attorney Ly T. Chin.