A Florida man was sentenced to six years in prison yesterday for allegedly stealing millions of dollars from American consumers’ bank accounts.
Court documents say that Michael Young, 44, of Hollywood, Florida, was part of a criminal enterprise responsible for stealing millions of dollars from the bank accounts of unknowing consumers across the United States.
The enterprise obtained “lead lists” that contained victims’ banking information – some of which derived from payday loan applications – and used it to make unauthorized debits against victims’ bank accounts.
“This sentence holds accountable yet another member of a transnational criminal network that stole millions of dollars from unsuspecting Americans across the country,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “These schemes are designed to be difficult to detect – spanning multiple jurisdictions and relying on layers of conspirators to obscure their operations – making them especially harmful to victims who often do not realize they have been targeted until it is too late. With 22 defendants charged in four districts, this prosecution reflects the Criminal Division’s commitment to dismantle every layer of criminal enterprises that prey on Americans, no matter how far their operations reach.”
Members of the enterprise falsely claimed to banks that victims had authorized the transactions. The enterprise also used numerous shell entities and money-laundering techniques to conceal its activities.
“Global criminal groups use U.S.-based individuals to exploit our nation’s banking system and launder money stolen from innocent victims,” said First Assistant U.S. Attorney Bill Essayli for the Central District of California. “I applaud our law enforcement partners for helping to bring this criminal to justice. We must and shall be as relentless in using every legal tool available to punish these individuals.”
For years, Young worked for a co-conspirator based in Southern California who ran the domestic side of the operation, assisting foreign co-conspirators with obtaining lead lists, establishing U.S. banking relations, and coordinating nominal owners or “signers” for shell entities. Through that work, Young participated in nearly every aspect of the scheme. Young later replicated the scheme himself to make more money.
“Despite hiding their actions behind fake companies, these suspects will pay for their abuse of people’s information and the banking system,” said Inspector in Charge Eric Shen of the U.S. Postal Inspection Service Criminal Investigations Group. “By exploiting victims from the payday loan list, these criminals took what little was left from people already struggling to make ends meet. The United States Postal Inspection Service will continue to relentlessly pursue criminals who exploit this country’s hardworking citizens and the U.S. Mail for unlawful purposes.”
In June 2025, Young pleaded guilty to one count of conspiracy to violate the Racketeer Influenced and Corrupt Organizations (RICO) Act. In total, 22 defendants have been charged and seven have been convicted in connection with this scheme. Find notices of upcoming hearings here.
The U.S. Postal Inspection Service investigated the case.
Trial Attorneys Wei Xiang and Meredith B. Healy of the Criminal Division’s Fraud Section and Assistant U.S. Attorney Monica E. Tait for the Central District of California prosecuted the case.
The department urges individuals to be on the lookout for unauthorized debits to their accounts. Regularly check your bank, credit card and other financial statements and contact your financial institution if you see a charge you do not recognize. Report any fraudulent debit you identify to law enforcement. Reports may be filed with the Federal Trade Commission at https://reportfraud.ftc.gov or at 877-FTC-HELP.
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