In a significant crackdown on cybercrime, 40 individuals have been arrested for their roles in a complex bank fraud scheme that used personal information obtained from the dark web. The operation, which targeted victims primarily in the Houston area, resulted in the theft of between $360,000 and $600,000.
The investigation, codenamed “Operation Cash Back,” identified several key figures behind the scheme, including 23-year-old Gregory Edwards III, 25-year-old Doc Frank, 20-year-old Jayson Gipson, and 21-year-old Lajewel McGilbray. These ringleaders have been charged with organized criminal activity and money laundering.
Mont Belvieu Police Chief Jimmy Ellison explained that the criminals used stolen data to access victims’ bank accounts and initiate unauthorized wire transfers. The stolen funds were then laundered through accounts belonging to friends, family, and others recruited via social media.
“Crooks have nothing but time to figure out how to get your data,” Ellison said, highlighting the sophistication of the operation and the vulnerability of the victims, who did nothing to attract the criminals’ attention.
The investigation revealed that some of the criminal associates were located in other states, including Georgia and Illinois, showcasing the extensive network involved in the scheme. As the investigation continues, Mont Belvieu police are working to identify additional suspects and ensure all involved are held accountable.
To protect against such fraud, experts recommend using unique passwords for each account, enabling two-factor authentication, and utilizing biometric security features. Law enforcement officials urge the public to remain vigilant as they work to dismantle the operation and prevent similar schemes.
