FBI Hunts Escaped Georgia Inmate Linked to $11M Schwab Fraud Case
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The FBI is offering up to $10,000 for information on Arthur Lee Cofield, who escaped a federal camp on May 26 and is accused of using a contraband cellphone to access a victim’s Charles Schwab account and divert $11 million to buy 6,106 gold coins and a $4 million mansion. While the scheme involves brokerage assets rather than crypto, the case highlights custody and identity security risks relevant to crypto, CEX custody, DeFi trust assumptions and potential regulatory scrutiny.
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- The FBI is offering up to $10,000 for information leading to Arthur Lee Cofield’s arrest.
- Authorities say he used a contraband cellphone to access a victim’s Charles Schwab account.
- Prosecutors say $11 million was used to buy 6,106 gold coins and a $4 million mansion.
The FBI is offering a reward of up to $10,000 as authorities continue searching for Arthur Lee Cofield, an escaped federal inmate tied to an $11 million Charles Schwab fraud scheme. Officials say Cofield left the minimum-security camp beside the Federal Correctional Institution in Jesup, Georgia, on May 26.
According to federal authorities, Cofield should be considered armed and dangerous. The case has drawn wider attention after prosecutors said he used a contraband cellphone while already in custody to steal a victim’s identity and move millions through a brokerage account.
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