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.
He faces a maximum of more than 40 years in prison at his sentencing scheduled July 30.
Copyright © 2022 The Washington Times, LLC.