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Former JP Morgan Chase Banker Steals More Than $400,000 From Credit Unions in Elaborate Fraud Scheme

Igor Shushpanov opens CU accounts, obtains credit, spends the funds, pays off balances with rubber checks and declares bankruptcy.

By Peter Strozniak | November 19, 2024 at 05:00 PM

A former JP Morgan Chase business banker in Florida pleaded guilty Monday to bank fraud after he admitted that he opened several checking accounts at credit unions, obtained their credit cards or personal lines of credit, spent the funds, paid off the entire balances he owed with worthless checks, and then declared bankruptcy, according to the U.S. Attorney’s office in Tampa.

Igor Shushpanov, 39, of Tampa began his fraudulent scheme in February 2017 and ran it through July 2022 stealing more than $400,000 from at least three credit unions, according to a plea deal document he signed with federal prosecutors.

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