A former Fifth Third Bank employee in Atlanta is facing serious charges after allegedly stealing millions. Fedrick Jeffries is accused of a massive fraud scheme.
The Allegations
Jeffries is charged with seven counts of identity theft, five counts of computer forgery, and one count of theft. The alleged theft totals $2.3 million. His coworkers first raised suspicions in late October 2023, leading to an investigation.
How the Scheme Worked
Investigators say Jeffries opened five fake bank accounts between May and October. He allegedly deposited millions of dollars using forged checks and stolen identities. While Jeffries was working, other unidentified people deposited the fraudulent checks and then accessed the accounts online.
A Wider Conspiracy?
The investigation uncovered a similar scheme at another Fifth Third Bank branch in West Palm Beach, Florida. While the connection between Jeffries and the Florida suspect remains unclear, the combined losses from both schemes exceed $2.6 million.
The Aftermath
Jeffries was arrested and jailed last week. The investigation continues.