LITTLE ROCK, Ark. — Ten different Arkansans are being indicted for their involvement in bank fraud that resulted in roughly $3 million of pandemic unemployment funds being stolen.
The 10 defendants allegedly withdrew money that they weren't entitled to through the use of unemployment debit cards, which were originally intended to access money made available through the CARES Act.
One of the 10 defendants, Madison Clark, was reportedly a contract employee for a bank where she was responsible for distributing debit cards in California's Employment Development Department.
Clark allegedly used that same access to then "issue debit cards, remove fraud blocks, and add credits to unemployment debit card accounts."
Clark reportedly made funds available through the usage of the debit cards, which is how she, 27-year-old Khi Simms, and others that Simms recruited would allegedly withdraw money.
At this point in the investigation, authorities estimate that it resulted in roughly $2.7M of fund money being used.
In total, 10 people played a part in the bank conspiracy. All are now awaiting trial, with some remaining in custody and others already released on bond.
According to reports, the following four people are still in custody and are awaiting trial:
- 27-year-old Khi Simms of Alexander, Arkansas.
- 27-year-old Brelyn London of Little Rock, Arkansas.
- 26-year-old Karl Harris of Little Rock, Arkansas.
- 26-year-old Deuntae Diggs of Little Rock, Arkansas.
Reports said that the following six defendants were all released on bond and are awaiting trial which is scheduled for April 18:
- 24-year-old Madison Clark of Alexander, Arkansas.
- 23-year-old Keshoun Coleman of Little Rock, Arkansas.
- 19-year-old Derrick Harris of Little Rock, Arkansas.
- 27-year-old Terence Holman of Little Rock, Arkansas.
- 29-year-old Brandon Shavers of Little Rock, Arkansas.
- 27-year-old Quentin Watson of Little Rock, Arkansas.
According to authorities, all 10 people are being charged with conspiracy to commit bank fraud and wire fraud.
The maximum penalty for bank fraud carries a sentence of 30 years in prison and a $1 million fine, while wire fraud carries a maximum sentence of 20 years in prison and $250,000 fine.