Show-Me State Times

A woman from Dunklin County, Missouri, has admitted to her involvement in a $565,000 bank fraud scheme. Sheri L. Reeves, 55, of Kennett, pleaded guilty in the U.S. District Court in Cape Girardeau to charges including aiding and abetting bank fraud, conspiracy to commit wire and mail fraud, and wire fraud.

Reeves acknowledged acting as a "money mule," facilitating the transfer of funds obtained through fraudulent means to her co-conspirators. On June 9, 2020, she opened an account at a Bank of America branch in Jonesboro, Arkansas. Before October 21 of that year, she added the name of the victim to this account. Her co-conspirators then used stolen account information to move $565,000 from the victim's account into Reeves' account through three electronic transfers.

Following these transactions, Reeves distributed the proceeds using cashier’s checks acquired in Tennessee and Arkansas and via a CoinFlip cryptocurrency ATM located in Dunklin County. She also shared her account details with others and made attempts to withdraw or did withdraw funds either in cash or by check.

Reeves is set for sentencing on February 13, 2025. The charge of bank fraud carries a potential penalty of up to 30 years imprisonment and a fine reaching $1 million. The conspiracy and wire fraud charges could result in up to 20 years imprisonment each along with fines up to $250,000.

The Federal Bureau of Investigation conducted the investigation into this case while Assistant U.S. Attorney Paul Hahn is handling its prosecution.

Authorities urge anyone who suspects they are involved in or victims of money mule schemes to contact the FBI’s Internet Crime Complaints Center at ic3.gov or reach out to their local FBI office.