Virginia Police Officer Drains $819,000 From 13 People Through Inheritance Scam, Spends the Money on Gambling: Report
An ex-Virginia police officer reportedly orchestrated an inheritance scheme that drained a huge sum of cash from his victims.
Jerry Kieth Brady Jr. duped 13 people into believing that he was set to receive an inheritance or life insurance benefits, reports the NBC affiliate WAVY-TV 10.
Court documents show that Brady asked friends and colleagues to loan him money in order to pay for lawyer fees, taxes and other costs to get the inheritance from a dead relative.
To convince the victims, Brady signed promissory notes and written contracts, promising to repay the funds. But Brady doubled down on the scam and asked the victims for more money, claiming that he would lose the inheritance if the fees were not paid.
In total, he defrauded the victims to the tune of $819,000 in 33 transactions, and has pleaded guilty to wire fraud and money laundering.
Says Carolyn Fields, IRS Criminal Investigation supervisory special agent,
“It was all a lie. So he had no intentions of paying most of these people back… He took advantage of that by using his position and authority to have people loan him money because they thought that he would repay them.”
Investigators say that Brady went on a gambling spree, blowing the funds in casinos, online sports betting apps and slots-style gambling machines at convenience stores.
The former police officer has been sentenced to three years in prison and ordered to pay more than $747,000 in restitution.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Virginia Police Officer Drains $819,000 From 13 People Through Inheritance Scam, Spends the Money on Gambling: Report appeared first on The Daily Hodl.
You May Also Like
Three Reasons Why Pi Network (PI) Could Crash Again After Hitting a 3-Week High
Taiko Makes Chainlink Data Streams Its Official Oracle
