On Friday, it was announced that a Reno resident had been indicted and had made his initial appearance for supposedly engaging in a $3.5 million fraud scheme in relation to more than 8,000 fraudulent PayPal credit accounts, bank accounts, and prepaid credit and debit card accounts. It is alleged that these accounts were created utilizing stolen identities.
46-year-old Kenneth Gilbert Gibson was indicted on the following charges.
- 10 counts of wire fraud
- 3 counts of mail fraud
- 10 counts of bank fraud
- 6 counts of access device fraud
- 6 counts of aggravated identity theft
The indictment alleges that Gibson supposedly obtained the identities of several victims and used those identities to open online, bank, credit, and prepaid debit and credit card accounts from 2012 to 2017. The defendant is accused of opening more than 8,000 fraudulent accounts utilizing the false identities. Then, it is alleged that Gibson used the false accounts to make unauthorized transfers, deposits, and transactions totally $3.5 million to himself in the form of hard copy checks and through electronic transfers.
The money was deposited into approximately 500 bank accounts and pre-paid debit cards under the defendant’s control. At this point in time, the defendant is innocent until proven guilty in a court of law.