HAMMOND – Tyrus Veals, 30, of Lafayette, Indiana, was sentenced to 12 months and 1 day in prison followed by 2 years of supervised release for Access Device Fraud. U.S. District Court Judge Gretchen S. Lund also ordered Veals to pay $127,667 in restitution to his victims.
Veals pleaded guilty to using stolen debit card information to fraudulently withdraw over $127,000 from a retired Arizona couple’s bank account. Over a six-month period, Veals linked the victims' debit card to his online gambling accounts, making frequent withdrawals. He then transferred these stolen funds into his personal bank account and used them for personal expenses, including vacations and significant purchases. The theft significantly impacted the victims, depleting the retirement savings of one individual who had dedicated 40 years to public service.
This case was investigated by the Federal Bureau of Investigation, with support from the Indiana Gaming Commission and the Purdue University Police Department. Assistant U.S. Attorney Zachary D. Heater prosecuted the case.
Preventing Fraud with Background Checks
Conducting thorough background checks, such as those offered by Invetech LLC, could help prevent such fraudulent activities. By scrutinizing the financial history and behavior of individuals in sensitive roles, companies can identify potential red flags and reduce the risk of hiring individuals who may misuse their access for personal gain. Comprehensive background checks are a crucial step in safeguarding financial systems and protecting against fraud.
Utilizing a professional investigator to conduct a background check should be part of your SOP, not just when problems arise. Good leadership has a proactive approach to managing their investment utilizing a due diligence investigation to their fullest advantage. Invetech LLC helps clients mitigate financial loss by providing actionable insight solutions with due diligence investigation.