HOUSTON -- Carlos Lavin Ibarra, 34, of Houston, has been sentenced to federal prison following his conviction on one count of bank fraud, announced United States Attorney Kenneth Magidson. Ibarra pleaded guilty July 9, 2014.
Today, U.S. District Judge Nancy Atlas, who accepted the guilty plea, stated that the idea that a banker takes money out of someone else's account without authority must be sanctioned and handed Ibarra a sentence of 33 months in federal prison to be immediately followed by five years of supervised release. Defendant was not ordered to pay a fine. He was further ordered to pay $779,000 in restitution.
Ibarra worked at JP Morgan Chase Bank in Houston. He admitted that while employed there, he purchased or caused to be purchased $779,000 in cashier's checks on accounts owned by a person from Nigeria. This person was deceased at the time of the defendant's actions and Chase was not advised of his death. The defendant admitted he acted fraudulently and without authority.
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