Leader of Multi-Million Dollar Check Fraud Scheme Sentenced

Categories: Arizona Breaking NewsArizona State News

A courtroom scene symbolizing the fight against financial crime.

News Summary

Cory J. White, 31, from Goodyear, Arizona, has been sentenced to 108 months in prison for leading a large-scale check fraud scheme that resulted in $8.5 million in losses to businesses. White, who previously faced related charges, was found guilty of conspiring to commit bank fraud, wire fraud, and money laundering. He and five co-defendants engaged in a sophisticated operation that involved stealing checks from the U.S. Mail and creating fictitious business accounts to misappropriate funds. White has also been ordered to pay $8.4 million in restitution.

Arizona – Cory J. White, a 31-year-old resident of Goodyear, Arizona, has received a sentence of 108 months in prison for his role in a multi-million dollar check fraud scheme. Additionally, he has been ordered to pay restitution amounting to $8.4 million, aimed at compensating the businesses he defrauded.

White pleaded guilty to multiple crimes, including conspiring to commit bank fraud, wire fraud, and money laundering, in Arizona’s federal court. He was identified as the leader of an extensive scheme that spanned several years and involved five other co-defendants. The fraudulent activities consisted of stealing checks from the U.S. Mail, which were intended for legitimate businesses.

Details from the court proceedings reveal that White and his co-conspirators created a “sham” business entity using the names of actual companies in order to deposit the stolen checks. They opened bank accounts under this fictitious entity and subsequently distributed the misappropriated funds among themselves. The investigation and prosecution of this case highlighted the intricate nature of the fraud and its serious repercussions for businesses across the nation.

White’s previous criminal history includes a conviction in 2018 for a similar fraudulent scheme. Despite his claims of being on “equal footing” with other participants in the scheme, his extensive involvement led prosecutors to emphasize the severity of his actions. They pointed out that his fraudulent activities had far-reaching impacts, undermining the trust in financial systems and disrupting legitimate business operations.

The crimes committed by White and his associates, totaling nearly $8.5 million in stolen funds, are described as “mind-boggling” by the FBI Phoenix Special Agent who oversaw the case. U.S. Attorney Timothy Courchaine also noted that White’s misuse of funds intended for legitimate businesses was solely for personal gain, reflecting an egregious violation of trust.

All six co-defendants involved in the check fraud scheme have pleaded guilty and have received sentences in connection with their roles. The efficient and thorough investigation conducted by the FBI Phoenix Division played a crucial role in unraveling the depth of the criminal activities and bringing White and his co-defendants to justice.

This case serves as a stark reminder of the potential for financial crimes to disrupt the operations of legitimate businesses and erode public trust in financial systems. Those seeking more details on this judicial proceedings can refer to the case number CR 23-01749-PHX-MTL for further information.