DOW JONES NEWSWIRES
A U.S. federal grand jury indicted 22 people for conspiracy to
commit bank fraud, aggravated identity theft and possession of
counterfeit securities, according to federal prosecutors in Puerto
Rico.
The defendants conspired to defraud "numerous" financial
institutions in the commonwealth, using account information and
identification of 18 unsuspecting individuals in order to take more
than $500,000 in cash and property from those institutions.
The banks targeted include Popular Inc. (BPOP), Banco Santander
SA (STD, SAN.MC) and Banco Bilbao Vizcaya Argentaria SA (BBVA,
BBVA.MC), said prosecutors.
If convicted, the defendants face up to 30 years in prison and
fines of up to $1 million.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com