A Milwaukee man masterminded a plan to defraud Milwaukee County banks of nearly $500,000, complaint says
Milwaukee Journal Sentinel
A Milwaukee man is facing 22 felony charges — and at least 11 other people are facing multiple felonies — after he allegedly masterminded and executed a fraud scheme that ripped off several Milwaukee County banks of nearly $500,000.
In a 22-page criminal complaint, Akelius M. Armstrong, 40, is accused of propagating a large-scale fraud scheme in which he provided false Social Security Numbers to about a dozen people, who then used those numbers to qualify for bank loans and paid little or none of them back.
All told, over a nearly two-year period beginning in June 2017, Armstrong and his associates succeeded in defrauding branches of at least three banks of $451,000, money which was used to purchase 16 cars, three credit cards and an iPhone, according to the complaint.