RICHMOND, Va. -- A Richmond man pled guilty in federal court for taking part in a conspiracy to steal mail from the U.S. Postal Service and use what they stole to commit bank fraud. The plea deal was just part of what prosecutors called a larger, nearly year-long scheme that resulted in hundreds of thousands of stolen dollars.
Olden Ellerbe III, 24, admitted in court that he was part of a larger conspiracy with at least one other person to steal mail and fraudulently take money from banks with what they stole.
The statement of facts filed as part of the plea deal said the group stole the mail through various methods including from blue USPS drop boxes.
Prosecutors said the conspirators would take stolen checks and repurpose them. still taking money from the person who wrote the check, but making themselves or accomplices the recipients. They also alleged the group created fake IDs using other people's information, applied for loans, and then withdrew the money.
Finally, prosecutors said the group used stolen credit and debit cards to make withdrawals from people's bank accounts.
While the amount listed in the statement of facts adds up to over $112,000 in withdrawals, the judge overseeing the case mentioned that over $250,000 was stolen from more than 10 victims throughout the conspiracy.
Ellerbe was caught on November 15, 2023, when he and another person made withdrawals in the tens of thousands from ATMs around Richmond. When he was caught he was found to have, among other things, 83 stolen checks, a fake I-D, and over $59,000 cash.
Ellerbe initially faced charges for all this in Richmond court, but they have been dropped in exchange for his plea in federal court.
Ellerbe faces up to 35 years in prison for the two charges, but the defense and prosecution agreed to recommended sentence in the low 20s.
The final decision will be up to the judge when he sentences Ellerbe on August 19.
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