Federal judges in two states recently handed down multi-year sentences to men convicted of bank fraud and identity theft.
In Houston, a Nigerian man was sentenced to seven years in prison for his his role in a bank and mail fraud scheme that defrauded approximately 25 victims, according to The Rancher, a newspaper in Katy, Texas.
After Olasunkanmi Shittu, 42, stole personal identifying information and credit card account information from people, he and his co-conspirators hacked into the victims' credit card accounts online and stole reward points tied to the accounts.
They then converted those points into cash and transferred the cash onto debit cards or gift cards for themselves.
In Washington state, a man who committed $600,000 in bank fraud was sentenced last week to six years in prison and five years of supervised release and ordered to pay restitution, according to The Maple Valley Reporter.
Chi Ahn Nguyen, 45, recruited others to the scheme and defrauded banks by running up credit card and cash advance debts that he never intended to repay.
Nguyen stole credit cards from seven major banks and got cash advances at area casinos.