RENO, Nev. (AP) — A 47-year-old Reno man has pleaded guilty to using stolen identities to create more than 8,000 fraudulent online accounts and bilk victims out of $3.5 million.
Kenneth Gibson pleaded guilty Friday in U.S. District Court in Reno to one count each of wire fraud, mail fraud, aggravated identity theft and filing a false tax return.
Federal prosecutors say he admitted failing to report more than $1 million in taxable income he received through the fraud scheme in 2013.
They say he used the stolen identities to open unauthorized prepaid cards, credit and bank accounts. He then used the accounts to send approximately $3.5 million to himself through checks and electronic transactions at about 500 accounts under his control.
Most Read Nation & World Stories
- A grandma knew she was being scammed, so she decided to swindle the swindler
- They had COVID-19 once. Then, they got it again.
- Single word sparks crossfire between Supreme Court, NPR and its star reporter Nina Totenberg
- An old Virginia plantation, a new owner and a family legacy unveiled
- COVID-19 tests: Different types and when to use them
He faces a maximum of more than 40 years in prison at his sentencing scheduled July 30.