A woman from Dunklin County has been sentenced to fifteen months in prison for her involvement in a $565,000 fraud scheme. Sheri L. Reeves was identified as a "money mule," transferring stolen funds to others. The U.S. District Judge handed down the sentence on Tuesday.
Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas, on June 9, 2020. She later added the name of the fraud victim to this account. Her co-conspirators used fraudulent means to access the victim's account and transferred $565,000 into Reeves' account. She then moved these funds using cashier’s checks obtained in Tennessee and Arkansas and through a CoinFlip cryptocurrency ATM located in Dunklin County.
Despite receiving warnings from the FBI, Reeves continued her involvement in financial crimes. According to her plea agreement, she also shared her account information with others and attempted to withdraw proceeds either in cash or by check.
In November, Reeves pleaded guilty in U.S. District Court in Cape Girardeau to charges including aiding and abetting bank fraud, conspiracy to commit wire and mail fraud, and wire fraud. Besides serving fifteen months imprisonment, she must pay $565,000 restitution to Bank of America and will undergo five years of supervised release after her prison term.
The FBI conducted the investigation into this case while Assistant U.S. Attorney Paul Hahn led the prosecution.
Authorities urge individuals who suspect they are involved or victimized by money mule schemes to contact the FBI’s Internet Crime Complaints Center at ic3.gov or reach out to their local FBI office.
