A JPMorgan Chase banker has allegedly abused her position as an insider at the banking giant to steal nearly $1 million.

According to a Department of Justice indictment, Franchesca Calagui knowingly cashed hundreds of forged U.S. Treasury checks while working as a teller at JPMorgan Chase to enrich herself and co-conspirators.

The scheme lasted for about ten months.

“On or about May 12, 2022, through on or about March 20, 2023, as a Chase Bank teller, CALAGUI accepted and cashed at least 339 forged checks totaling approximately $857,000.”

Calagui is facing the charges alongside alleged co-conspirator Dondre Gray.

Prosecutors say Calagui, her co-defendant and others coordinated the scheme via brazen text messages, phone calls and other means.

According to the indictment, Calagui intentionally flouted her employer’s check-cashing policy.

“Calagui [was] knowingly cashing U.S. Treasury checks for non-Chase Bank customers that did not comply with Chase Bank’s check cashing policy, including but not limited to cashing U.S. Treasury checks for non-Chase Bank customers, not verifying valid forms of identification, signatures, or required Chase accounts with sufficient funds.”

The Department of Justice says that during the active period of the fraudulent scheme, Calagui deposited $15,000 in cash from the criminal enterprise into her personal Chase Bank account.

Approximately $71,000 generated from the scheme was also deposited into her co-defendant’s Chase Bank account over the same period.

If proven guilty, the former part-time associate banker at JPMorgan Chase and her co-conspirator face up to 30 years in prison and a $1 million fine on each count.

 

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The post JPMorgan Chase Employee Allegedly Steals $857,000, Abusing Insider Status To Manipulate Hundreds of US Treasury Checks: Department of Justice appeared first on The Daily Hodl.

A JPMorgan Chase banker has allegedly abused her position as an insider at the banking giant to steal nearly $1 million.

According to a Department of Justice indictment, Franchesca Calagui knowingly cashed hundreds of forged U.S. Treasury checks while working as a teller at JPMorgan Chase to enrich herself and co-conspirators.

The scheme lasted for about ten months.

“On or about May 12, 2022, through on or about March 20, 2023, as a Chase Bank teller, CALAGUI accepted and cashed at least 339 forged checks totaling approximately $857,000.”

Calagui is facing the charges alongside alleged co-conspirator Dondre Gray.

Prosecutors say Calagui, her co-defendant and others coordinated the scheme via brazen text messages, phone calls and other means.

According to the indictment, Calagui intentionally flouted her employer’s check-cashing policy.

“Calagui [was] knowingly cashing U.S. Treasury checks for non-Chase Bank customers that did not comply with Chase Bank’s check cashing policy, including but not limited to cashing U.S. Treasury checks for non-Chase Bank customers, not verifying valid forms of identification, signatures, or required Chase accounts with sufficient funds.”

The Department of Justice says that during the active period of the fraudulent scheme, Calagui deposited $15,000 in cash from the criminal enterprise into her personal Chase Bank account.

Approximately $71,000 generated from the scheme was also deposited into her co-defendant’s Chase Bank account over the same period.

If proven guilty, the former part-time associate banker at JPMorgan Chase and her co-conspirator face up to 30 years in prison and a $1 million fine on each count.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post JPMorgan Chase Employee Allegedly Steals $857,000, Abusing Insider Status To Manipulate Hundreds of US Treasury Checks: Department of Justice appeared first on The Daily Hodl.