Hasan Korkmaz, the owner and operator of San Diego Logistics Group Inc., a trucking company based in Santee, has been arraigned in federal court on an 18-count indictment. The charges against him include bank fraud, money laundering, and aggravated identity theft.
The indictment claims that Korkmaz engaged in a credit card "bust-out" scheme during 2022 and 2023. This type of fraud involves establishing seemingly legitimate credit card accounts before maxing out the credit line without intending to repay the balance.
It is alleged that Korkmaz acquired personal information such as names, dates of birth, and social security numbers of real individuals to apply for multiple credit card accounts. These fraudulent accounts were reportedly used to incur substantial charges at various businesses, including his own company, San Diego Logistics Group Inc. Some transactions allegedly reached as high as $18,500 each.
To sustain the scheme, Korkmaz is accused of making fraudulent payments with checks from accounts that either had insufficient funds or did not exist. This temporarily restored the available credit limits on the cards, allowing further charges close to their maximum limits.
The indictment also alleges that Korkmaz laundered proceeds from this bank fraud by transferring them to a Turkish bank account under his control. The total losses caused by these activities are said to exceed $2,103,000 across two banks.
Assistant U.S. Attorneys Kevin Mokhtari and Christopher Alexander are prosecuting the case. The Federal Bureau of Investigation conducted the investigation leading to these charges.
Korkmaz faces serious legal consequences if convicted. Bank fraud charges carry a maximum penalty of thirty years in prison and a $1 million fine per count. Money laundering could result in up to twenty years in prison and fines up to $500,000 or twice the amount involved in the offense. Aggravated identity theft carries a mandatory minimum sentence of two years in prison.
