17 Waterloo residents arrested in money laundering case - KWWL - Eastern Iowa Breaking News, Weather, Closings

17 Waterloo residents arrested in money laundering case

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WATERLOO (KWWL) --A money laundering case involving more than a hundred thousand dollars has been busted.  18 people are now in custody and more arrests are expected.

It took a lot of legwork and following a paper trail of bank statements and postal records to uncover this money laundering scheme.  And what police found, led to the arrests.

18 people, nearly all from Waterloo, are now behind bars.  They're accused of running a money laundering scheme that took two years to uncover.  They face a slew of charges, ranging from ongoing criminal conduct to theft and money laundering.

It was all done by moving money around between various bank accounts.  And when checks started bouncing because of insufficient funds, the jig was up.

"From the checks that were being written with insufficient funds, and those kinds of things, it kept coming back to the bank.  And we work very closely with out banks here in town to try and work these cases and to try and prevent this type of activity.  And by working together with the banks, we were able to solve the case," said Captain Tim Pillick with the Waterloo Police Department.

Police believe the scammers primarily targeted two local banks, Regions and Wells Fargo.

"In all, total, there was $125,000 that the banks had in losses.  So that tells you there were quite a few people involved and quite a bit of money involved," said Captain Pillick.

In fact, police call it a criminal network that was working together to move money between accounts.  And there are still a handful of people, believed to be in one the scheme, that are on the loose.  Even so, the scam appears to be over.

"This specific money laundering case we believe is done.  And that's why were able to put everything together and arrest the individuals involved," Captain Pillick said.

It's an end that hopefully means these banks don't endure any further financial losses.

KWWL did reach out to both Regions and Wells Fargo Banks.  Spokespeople for both banks told us that because the investigation is ongoing, they cannot comment on the case.

The U.S. Postal Inspection Service also helped police crack this case.  The criminal network was able to purchase more than 80 money orders from the U.S. Post Office in excess of $50,000.  The money orders were an attempt to hide funds moved from the bank accounts with insufficient funds.

Below is a complete list of the people arrested so far:

Kornell Seth Epps, 43, of Waterloo

Edward Martin, 19, of Waterloo

Amber Dawn Brott, 33, of Waterloo

Desiree Michelle Burton, 47, of Waterloo

Lakeysha Sharece Holmes, 25, of Waterloo

Jamieson Rashad Harris, 30, of Waterloo

Claudia Felicity Louise Burton, 49, of Waterloo

Topaz Shapri Mitchell, 19, of Waterloo

Dana Lemar VanArsdale, 33, of Waterloo

Colione Deshamoine Fisher, 23, of Waterloo

Cheryl Yvonne Hubbard, 55, of Waterloo

Karletha Marie Brown, 21, of Waterloo

Terry Lee Bell, 58, of Waterloo

Dorian Lynette Burton, 38 of Waterloo

Sharece Darie Rucker, 20, of Waterloo

Asha Michelle Martin, 29, of Chicago, Illinois

Dorothy Ruth Bray, 44, of Waterloo

Shaveyanta Capri Jean Stovall, 19, of Waterloo

KWWL Reporter: Kera Mashek


 

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