fraudster sentenced to more than three years in federal prison for conspiracy of bank fraud | USAO-MD


Baltimore, Maryland – U.S. District Judge Richard D. Bennett has sentenced Erwin Boateng, 32, of Glen Burnie, Md., To 42 months in federal prison, followed by three years on probation, for conspiring to commit bank fraud in as part of a scheme in which the conspirators opened bank accounts using stolen personal identification information from other people, transferred or deposited funds obtained using stolen or forged checks, and then quickly removed the funds. Judge Bennett ordered Boateng to forfeit $ 24,758.79.

The sentence was announced by United States Attorney for the District of Maryland Erek L. Barron and Special Agent in Charge James R. Mancuso of Homeland Security Investigations (HSI) Baltimore.

According to the Boateng Advocacy Agreement, from September 1, 2015 to June 28, 2016, Boateng and others opened more than three dozen bank accounts using personal credentials stolen from other people or on behalf of companies. Boateng and his co-conspirators fraudulently transferred funds or deposited stolen and altered checks, and then quickly transferred the fraudulently obtained funds to other accounts or withdrawn the funds in cash. The total expected loss was approximately $ 374,076.90 and the amount successfully withdrawn was $ 188,176.24.

For example, on November 6, 2015, under the direction of an accomplice, Boateng opened a savings and checking account at the Greenbelt, MD branch of a credit union, identifying himself as the brother of identity theft victim MH, whom Boateng claimed to sponsor his membership in a credit union. On November 12, 2015, Boateng and others had a fraudulent ACH loan in the amount of $ 31,343.12 deposited into Boateng’s checking account. Boateng then withdrew $ 4,500 in cash and $ 10,000 in the form of a cashier’s check payable to Erwin Boateng from the account.

As detailed in the plea agreement, the proceeds illegally obtained from the fraudulent transactions were shared among the co-conspirators.

Boateng pleaded guilty to the bank fraud conspiracy in September 2019, but subsequently engaged in a second fraud scheme, while on bail. Specifically, according to information provided at today’s sentencing hearing, Boateng attempted to open an investment account using a fraudulent $ 9 billion “secure finance bond”. Boateng said he wanted to deposit the bond into an investment account as collateral for a $ 500 million loan from the investment company. The loan was to be used to finance “economic development in Africa” through Boateng’s international group Spherepoint. The investment firm determined that the documents were fraudulent and did not open an account. A person who was trying to help Boateng was warned and she, in turn, warned the police.

In addition to Boateng, four other co-conspirators have pleaded guilty for their role in the fraud scheme. David Livingston Attoh, 34, a Ghanaian citizen residing in Laurel, Maryland, was sentenced to three years in federal prison; Kabir Tunji Are, 43, a Nigerian citizen residing in Silver Spring, Maryland, was sentenced to 13 months in federal prison; Kwaku Boateng Blay, 38, a Ghanaian citizen residing in Beltsville, Maryland, was sentenced to 21 months in federal prison; and Franck Ulrich Noche Nsiyabuze, 31, of Laurel, Md., was sentenced to 18 months in federal prison.

US Attorney Erek L. Barron praised HSI for its work in the investigation. Mr. Barron thanked Deputy US Prosecutors Judson T. Mihok and Mary W. Setzer, who pursued the case.

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