Three men duped New York-area banks into shelling out more than $10 million and tried to make off with the money by converting it to crypto, U.S. Attorney Damian Williams said Thursday in a statement.
Zhong Shi Gao, Naifeng Xu and Fei Jiang allegedly stole millions of dollars from nearly a dozen financial institutions throughout the New York metropolitan area between 2018 and 2022, law enforcement officials said. The trio bilked banks out of the funds by posing as victims of fraudulent money transfers, prompting institutions to credit them in the amount of the supposed unauthorized transfers and “effectively doubling their money,” according to an indictment.
“These charges
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