A central Alabama man has been sentenced to five years in federal prison for his role as the “ringleader” in a multi-state bank fraud scheme involving fraudulent U.S. Treasury checks, according to the U.S. Attorney’s Office.
Eddarrius Tyjuan Wallace, 37, of York, Alabama, was sentenced by U.S. District Judge Anna M. Manasco to 60 months in prison and a $25,000 fine. In May, Wallace pled guilty to conspiracy to commit bank fraud and bank fraud.
According to court records, Wallace organized and oversaw the scam from June to September 2023. Prosecutors allege that he recruited and coached others to fraudulently deposit and withdraw dollars from US Treasury checks in Alabama and Mississippi.
The investigation began in June 2023, when a Tuscaloosa bank reported that two Treasury checks with falsified endorsements had been deposited. Authorities ultimately discovered fraudulent transactions worth more than $1.8 million.
Wallace was detained on September 19, 2023, along with five other people during a traffic stop conducted by Madison Police Department police in Mississippi. According to investigators, Wallace was carrying $11,969 in cash. A search of the vehicle reportedly revealed a false identification card, mail, and various bank debit cards with identities that did not match the vehicle’s occupants.
According to court filings, Wallace was also on bond for unrelated state felonies during the alleged plot.
U.S. Attorney Phillip W. Williams Jr. stated that the case highlights the financial impact of fraud on both government resources and the banking sector. Treasury Inspector General for Tax Administration, Special Agent in Charge According to Joel Weaver, the agency’s primary priority remains on preserving the federal tax administration system and investigating attempts to misuse Treasury return cheques.
The matter was investigated by the US Treasury Inspector General for Tax Administration, the Mississippi Attorney General’s Office, and the Madison Police Department.
On April 7, the Justice Department announced the formation of the National Fraud Enforcement Division (Fraud Division). The division is responsible for investigating and prosecuting fraud against the public, and it is part of a larger federal effort to combat fraud, waste, and abuse in government programs.
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