A woman from Dunklin County, Missouri appeared in U.S. District Court in Cape Girardeau Wednesday to face charges accusing her of aiding in the theft of $565,000 from a victim located in Texas.
Sheri L. Reeves, 53, of Kennett, was indicted by a grand jury on April 4 on one count each of bank fraud, wire fraud, and conspiracy to commit wire and mail fraud. She pleaded not guilty in court Wednesday.
The indictment says Reeves acted as a money courier or “money mule,” someone who transfers money obtained by fraud to others.
On June 9, 2020, Reeves opened an account at a Bank of America branch in Jonesboro, Arkansas that she would later use to receive the proceeds of various fraud schemes executed by others, the indictment says. She also added the name of another person to the account. That person was the victim of an account take-over fraud, in which conspirators used fraudulently-obtained account information to access the account and transfer $565,000 to Reeves’ account, the indictment says.
Reeves sent the proceeds from the various frauds to others using cashier’s checks obtained in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM in Dunklin County, the indictment says. She also sent the account information to others and withdrew or attempted to withdraw the proceeds in cash or by check, it says.
The bank fraud charge is punishable by up to 30 years in prison, a fine of up to $1 million, or both. The other charges are punishable by up to 20 years in prison and a $250,000 fine.
The case was investigated by the FBI. Assistant U.S. Attorney Paul Hahn is prosecuting the case.