Man pleads guilty in nearly $1M ID theft from local bank

July 11, 2012 5:22:40 AM PDT
A Chinese man who faked being someone else to steal nearly $1 million from accounts at a Houston bank has pleaded guilty.

Xin Gu of Dalian, China, faces up to 30 years in prison when he's sentenced Oct. 19.

Prosecutors in Houston say Gu was on trial when he pleaded guilty Tuesday to conspiracy to commit bank fraud and aggravated identity theft.

Gu was arrested Feb. 3 after posing as someone else at a Chase bank in Houston. Investigators say he presented a fake passport and bogus documents in the victim's name.

Prosecutors say a week earlier a fictional authorized user was added to the victim's accounts. Investigators believe a woman helped Gu withdraw the funds.

Gu remains in custody as the investigation continues.