Silver Spring Man Convicted Of Bank Fraud, Identity Theft

SILVER SPRING, MD — A Silver Spring man has been convicted for a years-long bank fraud scheme that resulted in a loss of hundreds of thousands of dollars, according to the U.S. Attorney's Office in Maryland.

On Tuesday, a federal jury convicted 47-year-old Emmanuel Kusi Appiah — a.k.a. Manny — of bank fraud, conspiracy to commit bank fraud, and aggravated identity theft, prosecutors said. The Silver Spring resident faces up to 30 years in prison for conspiracy to commit bank fraud and for four counts of bank fraud. He also faces up to two years in prison, consecutive to any other sentence imposed, for two counts of aggravated identity theft. He is expected to be sentenced on June 1 at 9:30 a.m.

Over the course of a five-day trial, prosecutors said Appiah defrauded individuals and financial institutions of several hundred thousand dollars from June 2013 through March 2018.

"Specifically, the trial evidence proved that Appiah conspired with others to open bank accounts at 10 different financial institutions using the stolen identities of at least five individual victims, and under the business names of five shell corporations, including Global Tax Services Incorporated, Merchandise Services Incorporated, Imperial Pipe Incorporated, SJ Metal Incorporated, and Morgan Incorporated," officials from the U.S. Attorney's Office in Maryland said.

Prosecutors said that Appiah and his co-conspirators then deposited stolen and altered conveniences checks, business checks, and tax refunds into those fraudulent bank accounts.

According to officials, witnesses in court said Appiah "then withdrew the fraudulent proceeds in cash, transferred the proceeds to other fraudulent accounts, or laundered the proceeds through the purchase of money orders, which Appiah and others used for their personal benefit."

The government is seeking restitution in the full amount of the victims' losses.