An Ontario man is facing serious charges in connection to a $128-million fraud case in the United States. The U.S. Internal Revenue Service (IRS) announced on January 14 that Gregory Walker, along with three other individuals, has been charged with conspiracy to commit bank fraud and conspiracy to commit money laundering.
Walker’s co-accused include Daniel Liburdi of Miami, Joseph Scotto of Bay Shore, New York, and Frank Carbone III of Orlando.
The indictment alleges that Walker and his co-conspirators engaged in a scheme to defraud U.S. financial institutions by submitting fraudulent applications for merchant processing accounts, used to process payments such as credit and debit transactions.
According to the IRS, the group obtained sensitive personal data from unwitting victims through dishonest means, using this information to accept credit and debit card payments for an e-commerce operation described as employing “high-risk and unscrupulous sales techniques.”
The scheme allegedly resulted in the conspirators obtaining illegal funds totaling $128 million (USD).
If convicted:
- Conspiracy to commit bank fraud and bank fraud charges carry a maximum penalty of 30 years each.
- Conspiracy to commit money laundering carries a maximum penalty of 20 years.
The case is being handled by multiple U.S. law enforcement agencies, including the IRS and Homeland Security, which continue to investigate the full scope of the fraud.
No court date has been set for Walker or the other defendants as of the time of publication.
The fraudulent scheme highlights the vulnerabilities in financial systems targeted by cybercriminals and the far-reaching consequences of data breaches. U.S. authorities have reiterated their commitment to holding perpetrators accountable and protecting the public from financial exploitation.