Two Men From North Carolina And Georgia Charged With Fraudulent Credit Scoring Scheme | USAO-EDPA
PHILADELPHIA CREAM –U.S. Lawyer Jennifer Arbittier Williams has announced that Ashante Richardson, 46, of Lawrenceville, GA, and Frank Crosson, 50, of Greensboro, North Carolina, have been arrested and charged with conspiracy indictment in view of wire fraud and several counts of wire fraud in connection with a scheme to fraudulently modify the credit scores of numerous people in order to obtain loans and credit.
According to the indictment, which was unsealed along with the defendants’ initial appearances in federal court on these charges today, from around September to December 2016, the defendants conspired with another person to change their credit histories and those of their customers in order to falsely improve the chances of these people obtaining credits and loans from financial institutions. At the material time, the defendants’ co-conspirator was an employee of TransUnion, one of the three major consumer credit reporting agencies in the United States. Richardson and Crosson allegedly paid this person $ 40,000 in exchange for unauthorized and unjustified changes to TransUnion’s credit history, including the credit histories of customers of Perpetual Synergy, a credit repair business operated by Richardson. Soon after the TransUnion co-conspirator changed these people’s credit histories, many of these people increased their credit scores and got new credit cards, lines of credit or bank loans.
“The defendants have allegedly tricked our national credit assessment system in order to bolster their scores and those of their clients,” US Attorney Williams said. “Criminals who carry out schemes like this prey on the hard work and honesty of all American consumers who operate within the system to build their credit histories. Our office will continue to investigate and prosecute financial fraud in order to protect the integrity of markets and commerce. “
If found guilty, the accused face a possible maximum sentence of 180 years in prison, three years of supervised release, a fine of $ 2,250,000 and a special assessment of $ 900.
The case has been investigated by the Federal Bureau of Investigation and is being pursued by Assistant United States Attorney KT Newton.