Memphis, TN Jaime Walsh, 53, has been sentenced to 78 months in federal prison for one count of bank fraud in connection with a scheme perpetrated against over 100 entities, most of which were nonprofits. Acting U.S. Attorney Joseph C. Murphy Jr., announced the sentence today.
According to information presented in court, between June 2013 and March 2019, Walsh defrauded various organizations including charities, churches, nonprofit environmental entities, and the Peace Corps. Walsh would, for example, make an online donation of $4500 to an organization. He would then contact the organization, claiming he intended to donate only $45, and ask for a refund of $4455. The organization would issue the requested refund and Walsh would immediately withdraw the money from his account.
Meanwhile, the original donation made by Walsh would be rejected due to insufficient funds and the targeted organization would suffer a complete loss of the refunded amount. Walsh attempted to defraud victims of $863,736.69. He succeeded in defrauding victims of $241,397.33.
On March 2, 2021, Walsh pled guilty to bank fraud.
On July 20, 2021, U.S. District Judge Mark S. Norris sentenced Walsh to 78 months in federal prison to be followed by three years supervised release. Walsh was also ordered to pay restitution to victims in the amount of $203,840.70. A money judgment for $241,397.33 was entered against Walsh.
This case was investigated by the U.S. Postal Inspection Service, Tennessee Highway Patrol, U.S. Secret Service, and the Peace Corps Office of the Inspector General.
Assistant U.S. Attorney Scott Smith prosecuted this case on behalf of the government.
Source: U.S. Secret Service