Brroklyn man took part in Stolen Identity Refund Fraud Scheme

Brroklyn man took part in Stolen Identity Refund Fraud Scheme

Festus Owusu, 44, a resident of Brooklyn, New York pleaded guilty in federal court to a charge of conspiracy to commit wire fraud.

In connection with the guilty plea, the court was advised that Owusu allowed his bank accounts to be used as repositories for fraudulently obtained federal tax refunds. Owusu would then withdraw the refunds in cash, keep a portion for himself and provide the remainder of the funds to his co-conspirators.

The sentencing is scheduled for February 6, 2017. The law provides for a maximum total sentence of 20 years in prison, a maximum fine of $250,000 or twice the amount of loss to the victims, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.