In a major crackdown on cybercrime, law enforcement officials arrested 40 individuals involved in a sophisticated bank fraud scheme that stole hundreds of thousands of dollars from unsuspecting victims. The victims, who did nothing to become targets, had their personal information stolen from the dark web.
The investigation, dubbed “Operation Cash Back,” revealed that the group had stolen between $360,000 and $600,000 from at least 35 victims in the Houston area alone. The scheme’s ringleaders—23-year-old Gregory Edwards III, 25-year-old Doc Frank, 20-year-old Jayson Gipson, and 21-year-old Lajewel McGilbray—were charged with engaging in organized criminal activity and money laundering.
Mont Belvieu Police Chief Jimmy Ellison explained that the criminals used the stolen information to make unauthorized wire transfers from victims’ bank accounts. To launder the stolen funds, the group recruited friends and family members, often through social media, to funnel the money into “clean” accounts.
“Crooks have nothing but time to figure out how to get your data,” Ellison said, emphasizing the importance of vigilance in protecting personal information.
Some of the criminal associates involved in the scheme were located as far away as Georgia and Illinois, highlighting the extensive reach of the operation. Mont Belvieu police are continuing their investigation and working to identify additional suspects involved in the network.
An online security expert advised that individuals can protect themselves from such fraud by avoiding the reuse of passwords, enabling two-factor authentication for banking accounts, and using biometric security options whenever possible.
As the investigation unfolds, authorities are urging the public to remain cautious and proactive in securing their personal information to prevent becoming victims of similar schemes.
