Fraud Ringleader Admits to Stealing $370k From 25 Sailors' Navy Federal Accounts

Prosecutors say their ongoing investigation may reveal the number of victims and losses could be higher.

By Peter Strozniak | March 17, 2022 at 06:01 PM

Trequan Smith will be sentenced in August for leading a fraud ring that stole more than $370,000 from 25 sailors' accounts at the $153 billion Navy Federal Credit Union in Vienna, Va.

Continue Reading for Free

Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
Educational webcasts, white papers, and ebooks from industry thought leaders
Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com

NOT FOR REPRINT

Fraud & Enforcement

1 New Executives Welcomed at 6 Credit Unions

2 NCUA Board Meeting: Cyber Incident Reporting Reveals 'Weak Link' in CU System

3 How Credit Unions Can Reduce Call Spoofing & Fraud Problems

4 Auto Securities Near New Record for Credit Unions

5 Tennessee Credit Union Makes First Proposed Acquisition of Kentucky Bank

Insurance
Credit Union Times Luminaries Awards 2024
November 07, 2024 - Orlando

This event shines a spotlight on the individuals, teams, projects and organizations that are changing the financial industry.
More Information
Consulting
Women Leaders in Consulting (WLC) 2024
November 14, 2024 - New York

Women Leaders in Consulting Awards honors the industry standouts and rising stars who are making a mark within the profession.
More Information
Real Estate
GlobeSt. Healthcare Real Estate 2024
December 02, 2024 - Scottsdale

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!
More Information

Truliant Top Credit Union Lender for SBA

By Jim DuPlessis | October 25, 2024

N.C. credit union produces $104 million in SBA loans in fiscal year that ended Sept. 30, leading among 167 CUs.

Truliant Top Credit Union Lender for SBA

Accused Fraudsters Run Highly-Organized Scheme Victimizing Utah's Largest Credit Unions

By Peter Strozniak | October 25, 2024

Five men allegedly recruit indigent persons, bought them new clothes, gave them phony IDs, and paid for their travel and lodging to carry out a $452,000 fraud.

Accused Fraudsters Run Highly-Organized Scheme Victimizing Utah's Largest Credit Unions

FBI Nabs Suspect After String of CU Robberies in Alaska

By Peter Strozniak | October 24, 2024

Feds are expected to release the name of the suspect and the charges at a later date.

FBI Nabs Suspect After String of CU Robberies in Alaska

Study

Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
Exclusive discounts on ALM and Credit Union Times events.
Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now

Instant Insights /