Nathan Wu-Falkenborg, a 49-year-old from Alameda, has been charged with stealing $800,000 from prepaid debit cards meant for federal benefits. Working in fraud prevention for a prepaid card program, Wu-Falkenborg allegedly accessed confidential information to activate and misuse numerous dormant accounts. The indictment includes 12 counts of bank fraud and three counts of aggravated identity theft, with potential penalties of up to 30 years in prison. He is currently released on bond and will have a court status conference on July 9.
Nathan Wu-Falkenborg, a fraud prevention worker, was indicted for allegedly stealing $800,000 from prepaid debit cards, leveraging his access to confidential account information.
The U.S. Attorney's Office noted that Wu-Falkenborg activated and utilized dormant Direct Express accounts by exploiting his role within the fraud prevention department.
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