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A California man who led a nine-person conspiracy ring that stole more than $2.7 million from credit unions and banks was sentenced to 87 months in federal prison, the U.S. Attorney's office in Los Angeles said.
During an Aug. 19 sentencing hearing, U.S. District Court Judge John F. Walter also ordered Carlos Corona, 37, of South Los Angeles to pay restitution of $2,722,632. During the three-year scheme facilitated through social media, Corona and nine co-conspirators intended to cause at least $5.3 million in losses to the $6.7 billion Kinecta Federal Credit Union in Manhattan Beach, Calif., the $177 billion Navy Federal Credit Union in Vienna, Va., the $30.8 billion SchoolsFirst Federal Credit Union in Tustin, Calif., Bank of America, Citibank, Wells Fargo, Morgan Chase Bank, and U.S. Bancorp.
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