Two women have been sentenced for their role in a $234,467 auto fraud ring involving Jackson, Miss.-based Magnolia Federal Credit Union, the Department of Justice announced.
Both Shakedra Verleece Smith and Sheri Youse — who also goes by the name Sheri Johnson — were sentenced to five years’ probation with six months home confinement. They pay restitution in the amounts of $40,000 and $55,000, respectively.
According to an October 2018 indictment, the fraud ring — which involved seven people — conspired to defraud the credit union by submitting loan applications with computer generated Social Security Numbers and false employment information for vehicles to be purchased at non-existent dealerships. In addition, one conspirator had control of a phone line that was used to verify the false employment information.
The ringleader, Jumaane Bakari Brisby, would provide the fake SSNs and the other conspirators would submit applications for auto loans to the credit union ranging from $25,000 to $55,000. Brisby would take a portion of the loan proceeds.
Youse pled guilty on Feb. 7; Smith pled guilty on Feb. 28, according to court documents filed with the Southern District of Mississippi.
This case is ongoing. Information was unavailable about the other alleged conspirators.
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