Show-Me State Times

A Missouri man has been sentenced to over five years in prison after pleading guilty to a scheme that defrauded dozens of clients at a financial firm. U.S. District Judge John A. Ross on Tuesday handed down a 65-month sentence to Calvin Lee Gray, 24, who admitted using his access as an employee to steal personal information and commit fraud.

Between August 2022 and April 2024, Gray accessed private data from hundreds of customer accounts without authorization. He used the stolen information—including birthdates, Social Security numbers, and account details—to impersonate customers when communicating with other financial institutions. Gray changed customer addresses to his own, had credit cards reissued in their names sent to him, and applied for new lines of credit.

Gray’s actions resulted in the theft of $357,582 from victims, which he has been ordered to repay. Authorities say he attempted to steal more than $550,000 in total. The stolen funds were used for travel, luxury purchases, gambling, and transferring money into accounts under his control. In one instance, Gray opened a checking account in a victim’s name and withdrew $1,780 through ATM transactions after transferring money from other victims’ accounts.

To further conceal his activities, Gray fabricated identification documents featuring his photograph but bearing others’ personal information. These documents enabled him to access additional financial accounts.

Gray’s mother, Joann Helms of De Soto, Missouri, was also implicated in the scheme. She pleaded guilty to conspiracy to commit bank fraud and fraud related to identification documents. According to court records, Helms allowed her son to use her account for laundering proceeds from the crimes and accompanied him on shopping sprees funded by stolen money. She is scheduled for sentencing on Thursday.

The Financial Industry Regulatory Authority (FINRA) has barred Gray from employment or association with any FINRA-member firms due to his actions.

“The U.S. Postal Inspection Service is charged with defending the nation’s mail system from illegal use. With the collaborative efforts of our federal law enforcement partners, Postal Inspectors investigate fraudsters who utilize the U.S. Mail to perpetuate financial schemes to defraud others to enrich themselves. Postal Inspectors seek justice for victims including those most vulnerable,” said Inspector in Charge Ruth Mendonça of the Chicago Division of the U.S. Postal Inspection Service.

The investigation was conducted by the U.S. Postal Inspection Service and prosecuted by Assistant U.S. Attorney Gwen Carroll.