Maryland Man Charged in $1,000,000 Bank Fraud Targeting Senior Citizens

Federal prosecutors have charged a man with bank fraud after he allegedly stole over $1 million from more than 40 seniors using stolen debit cards and altered account addresses.

Roy Dave Davis, 34, of Hyattsville, Maryland, was arrested in connection with the alleged scheme, says the U.S. Attorney’s Office for the District of Maryland.

Prosecutors allege that Davis obtained personal information from customers at a financial institution beginning in May 2023 and then used that information to launch a lucrative scheme.

Armed with the clients’ private information, Davis is accused of changing their mailing addresses to locations under his control and ordering replacement debit cards in their names.

Authorities allege that he then conducted more than 1,500 fraudulent ATM withdrawals that exceeded $1 million in total. Davis is also accused of using the cards to buy over $100,000 worth of luxury fashion items.

More than 40 victims were affected, most of them seniors averaging 81 years old. Davis also alledgedly obtained and used debit cards that were connected to small businesses, dead people and a charter school.

A conviction on the bank fraud charge carries a maximum penalty of 30 years in federal prison.

The U.S. Postal Inspection Service conducted the investigation leading to the criminal complaint.

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The post Maryland Man Charged in $1,000,000 Bank Fraud Targeting Senior Citizens appeared first on The Daily Hodl.