DECATUR, Ala.–Twenty-three people have been charged and 18 have been arrested for alleged theft that led to more than $2 million in losses by Redstone Federal Credit Union.
According to the Morgan County (Ala.) Sheriff’s Office, the arrests involved alleged fraudulent account transfers through the credit union.
"The funds were then used through various means: ATM withdrawals, in-store or online purchases, and Cash App," MCSO said in a released statement. "To date, there has been a total of over $3,453,655.72 in attempted transfers with a total loss of over $2,000,397.01."
Influx of Transfer Fraud
According to the MCSO, Redstone Federal said it experienced an influx of transfer fraud beginning in September of 2023. MCSO investigators, assisted by the FBI, the U.S. Army Criminal Investigation Division and Green Research & Technology, identified 23 suspects in Morgan County.
Sixteen were charged with first-degree theft and booked into Morgan County Jail on $5,000 bond.
Two Decatur women were charged with second-degree theft and booked into jail on $2,500 bonds, while arrest warrants have been issued for five other Decatur residents, one of whom is already in custody in another county.
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