10 Local Men Accused Of Defrauding Banks Over $1.3 Million: Feds

Chicago IL

06 August, 2021

4:22 PM

Description

CHICAGO —Ten residents of the Chicago area have been indicted on federal fraud charges after police said the group tried to cash counterfeit U.S. Postal Service money orders. Federal prosecutors in Chicago said authorities were alerted to the scam where the defendants would deposit fake USPS money orders into their own bank accounts and then quickly withdraw the funds before the banks could tell the money order was inauthentic. According to a July 28 indictment, the men bought or hired people to buy money orders from post offices that cost less than $10, later altering them to show higher amounts. Officials said the scam began in December of 2018. Nathan R. Chavis, of Chicago; Marvin L. Cole, of Chicago Heights; Reginald Russell, of Glenwood; Darius D. Goodwin and Alexander S. Cocroft, both of Country Club Hills; Victor J. Johnson, of Oak Forest; Lance Brandon Cole, of Richton Park; Munang O. Ekoi, of Lisle; Sernard D. Gill, Jr., of Matteson; and Armani M. Spencer-Sprattlin, of Park Forest were all charged with bank fraud. The defendants range in age from 26 -to 32-years-old. Indictments list Nathan Chavis as defrauding the most amount with at least $158,610 in altered and counterfeit money orders. Assistant U.S. Attorney John R. Lausch, Jr. said Chavis was planning to deposit the order into third-party bank accounts. Marvin Cole and Reginald Russel are accused of being responsible for a combined $132,593. Goodwin, Johnson, Lance Cole, Ekoi, Gill and Spencer-Sprattlin are accused of about $895,000 combined. And Cocroft is accused of defrauding $207,985. William Hedrick, Inspector-in-Charge of the Chicago Division of the U.S. Postal Inspection Service said the Elmhurst Police Department provided "valuable assistance" with the case. Officials from Elmhurst police did not immediately respond to requests for comment. Bank fraud is a federal offense punishable by up to 30 years in prison.