Memphis, TN - A federal grand jury has indicted a Memphis man for committing bank fraud against financial institutions in the Memphis area. Lawrence J. Laurenzi, Acting U.S. Attorney for the Western District of Tennessee, announced the indictment today.
According to the indictment, from August 2011 through February 2016, Talmadge Garner and unknown co-conspirators not charged in the indictment participated in a deceptive scheme to defraud Orion Federal Credit Union, SunTrust Bank and Regions Bank ("Banks"). The fraud consisted of opening new accounts and/or using their existing accounts to deposit fraudulent checks. Garner also stole the identities of individuals to pass fraudulent checks to the Banks.
Nearly 200 fraudulent closed account checks totaling $110,831.95 were deposited into accounts at the Banks. Immediately after deposits were made in the Banks, withdrawals were made by Garner and others not named in the indictment. Garner would give co-conspirators some of the proceeds withdrawn from the Banks.
The Indictment records (31) counts of fraudulent transactions involving Garner and unknown co-conspirators during the five-year period. The maximum penalty for bank fraud is (30) years in prison and a $1,000,000 fine.
The case was investigated by the United States Secret Service. Assistant U.S. Attorney Damon Keith Griffin is prosecuting this case on the government’s behalf.
Source: U.S. Department of Justice, Office of the United States Attorneys
