Two Illinois men have been sentenced for their involvement in a bank fraud and money laundering scheme. The defendants, identified as 38-year-old Jeremy L. Ramsey and 39-year-old Kevin D. Krueger, were convicted of defrauding a credit union and engaging in money laundering activities.
According to court documents, the two men opened accounts at the credit union and deposited checks totaling over $700,000 from a company owned by one of the defendants. However, it was later discovered that the checks were fake and the funds were not actually available. The defendants then proceeded to withdraw the funds in cash and transfer them to other accounts, ultimately leading to a loss of over $500,000 for the credit union.
Both Ramsey and Krueger were sentenced to 41 months in federal prison for their crimes. In addition to their prison terms, the defendants were also ordered to pay restitution in the amount of $553,570. This case highlights the serious consequences of committing bank fraud and money laundering, which can result in significant financial losses for financial institutions and individuals.
The U.S. Attorney’s Office for the Southern District of Illinois, which prosecuted the case, emphasized the importance of holding individuals accountable for white-collar crimes. U.S. Attorney Stephen R. Wigginton stated that the defendants’ actions had a detrimental impact on the credit union and its members, and that they would be held responsible for their actions.
Overall, the sentencing of Jeremy L. Ramsey and Kevin D. Krueger serves as a reminder of the severe penalties that can result from engaging in fraudulent financial activities. The case highlights the importance of safeguarding against fraud and money laundering in order to protect individuals and financial institutions from harm.
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