Monday, February 22, 2010

Ex- New York Fed Reserve Bank Employee Convicted; Gets Prison Term; Not Geithner

While Tresury Secretray Timothy Geithner continues to fly around planet conducting global scams that began while he was at the NY Fed, the small time scammers get slammed hard. The North County Gazette with the details:

A former employee of the Federal Reserve Bank of New York and his brother have been sentenced today to 40 months and 57 months respectively for their roles in schemes to obtain hundreds of thousands of dollars in fraudulent loans...

Curtis Wiltshire previously worked as an information and technical analyst at the FRB-NY in lower Manhattan. In that capacity, he had access to the personal identification information of many FRB-NY employees, including names, dates of birth, Social Security numbers, and photographs.

In 2006, prosecutors said Curtis Wiltshire stole identification information from FRB-NY and provided that information to his brother. Both brothers then used that identification information, and additional identification information Kenneth Wiltshire had stolen elsewhere, to apply for, and obtain, educational loans in the names of the stolen identities. Over the course of the scheme, prosecutors Curtis and Kenneth Wiltshire collectively sought student loans in an amount over $450,000.

Kenneth Wiltshire also engaged in a scheme, using the stolen identification information and photographs, to apply for boat and recreational vehicle loans. In the course of this scheme, he sought loans in an amount over $525,000.

Among the actions taken in order to execute the fraudulent student,boat, and recreational vehicle loans schemes, were the following according to prosecutors: the creation of fake college and university transcripts and related documents; the manufacture of fake identification documents, such as driver’s licenses, some of which contained photographs of employees of the FRB-NY; the creation of fake utility bills, tax returns, and W-2 documents; the opening of bank and brokerage accounts into which the fraudulently obtained loan proceeds could be deposited; and the use of prepaid cellular telephones, so that lenders could contact the brothers about the fraudulent loan applications in a way that would not be easily associated with them.

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