A Tanzanian, Athuman Farid Omar, has been handed 40 months in federal prison and two years of supervised release for defrauding a Dallas-based credit union, resulting in over $2.3 million in actual losses.
US District Judge Ed Kinkeade imposed the sentence on Wednesday and ordered him to pay $2.3 million in restitution.
The United States Attorney’s Office for the Northern District of Texas said on Thursday that Mr Omar, 49, pleaded guilty to conspiring to commit bank fraud in April.
According to court documents and statements at the sentencing hearing, Mr Omar exploited his years-long relationship with the former CEO of the Dallas-based credit union and co-conspirator, Jonathan Salcedo.
The convict used that relationship to defraud the financial institution of millions of dollars by depositing insufficiently funded cheques into several business accounts he opened with the credit union, issued from an account at a separate bank.
“The eighteen-month-long scheme came to an end in December 2022, when in the span of just two days, Omar attempted to deposit 56 checks totalling $1,160,780 from his account with a separate bank to an account with the credit union, despite knowing that he did not have sufficient funds to cover the amount of those checks,” the statement read.
Mr Omar has resided in Dallas for decades without legal status in the United States and would be transferred to ICE custody upon completion of his federal sentence.
“This sentence and restitution order reflect the seriousness of Mr Omar’s long‑running scheme to exploit a trusted relationship and siphon millions of dollars from a financial institution that serves our community,” said US Attorney Ryan Raybould.
“This office will not tolerate those who exploit personal relationships and manipulate the banking system for illicit gain. We will protect the integrity of our financial institutions and relentlessly pursue anyone who attempts to defraud them.”
Co-conspirator Jonathan Salcedo has also pleaded guilty, and his case is set for sentencing later this year.
The FBI Dallas conducted the investigation.