Lindsley J. Georges and Dave Guillaume, both residents of Massachusetts, USA, have pleaded guilty to laundering money that they obtained fraudulently from customer bank accounts.
In December 2017 and January 2018, Georges and Guillaume fraudulently withdrew over $900,000 from customer accounts at Santander Bank and TD Bank. They used the money to buy bank checks in the names of various business entities and deposited them into business accounts of those entities at TD Bank and Bank of America. Thereafter, Georges and Guillaume withdrew large sums of cash and checks from these business accounts. Moreover, Guillaume used fake accounts and documents to open two of the business accounts.
The money laundering charge could result in a prison sentence of up to 20 years, in addition to a penalty of $500,000.
Source: US Department of Justice