FLORIDA—A Lakeland businessman has been charged with 10 counts of bank fraud, each carrying a maximum penalty of 30 years in federal prison.
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The U.S. Attorney’s Office for the Middle District of Florida announced the indictment against Abraham Othman Yacoub, 26, who is accused of conducting fraudulent financial transactions on behalf of his companies, Visionary Auto Body LLC and Visionary Auto Care LLC.
According to the indictment, Mr Yacoub allegedly engaged in fraudulent schemes between January 2021 and February 2023, making dozens of deposits and withdrawals at financial institutions across the Middle District of Florida.
One scheme reportedly involved depositing the same checks into multiple business accounts despite the checks having already been paid. Another scheme involved depositing checks from closed business accounts into active accounts, resulting in fraudulent credits.
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Yacoub is currently in federal custody after being sentenced to three years and six months in prison for violating airport security regulations and attempting to bring a dangerous weapon onto an aircraft at Tampa International Airport.
In addition to the bank fraud charges, the United States is seeking a forfeiture of $181,540.51, the proceeds of the alleged criminal activities.
An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law. Every defendant is presumed innocent unless and until proven guilty.
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The Federal Bureau of Investigation conducted the investigation, and Assistant U.S. Attorney Karyna Valdes will prosecute the case.
