COLUMBUS, Ga.–A second person has been arrested in a fraud case that involved hundreds of thousands of dollars being stolen from Navy Federal Credit Union.
According to the Columbus Police Department, Demetrius Redding, 46, was arrested for alleged fraud, which was committed with the help of a Navy Federal Credit Union employee.
As CUToday.info reported here, former Navy FCU employee Steven Verrett was arrested for allegedly using legitimate members at his desk as cover while he deposited counterfeit checks, opened fraudulent vehicle loans and transferred the money himself and several other co-conspirators. That alleged months-long fraud involved more than $800,000.
How Scheme Worked
Police said Redding, with Verrett’s help, deposited four stolen checks totaling $480,142.91 in various bank accounts.
Redding is charged with four counts of third-degree forgery and four counts of criminal attempt of theft by deception, according to police.
Verrett has been charged with 31 fraud-related charges, 18 of which are felonies, as of early June, according to prosecutors.