Texas Man Receives Four-Year Prison Sentence for Bank Fraud Scheme

A Texan resident, who admitted to stealing more than $100,000 from banks in Montana as part of a criminal group that used fake checks and stolen identities to deceive financial institutions, has been sentenced to four years in prison. Additionally, they will serve five years of supervised release and are required to pay restitution totaling $103,149, as ordered by U.S. Attorney Jesse Laslovich.

In August 2023, Shanetwann Clayton Waldon, a 46-year-old individual from Dallas, Texas, admitted his guilt to the charges of bank fraud and aggravated identity theft.

According to court documents, the government alleged that Waldon, along with a group of accomplices, traveled from Texas to Montana, Idaho, and Wyoming with the purpose of cashing fraudulent checks at small financial institutions. Waldon specifically targeted rural areas due to their perceived “country” nature and slower banking processes compared to Texas. From 2022 to 2023, Waldon made multiple trips to Montana and successfully stole thousands of dollars on 10 different occasions by infiltrating new banks. To avoid detection by law enforcement, Waldon assumed a fake identity and forged documents to create debts under other individuals’ names. In Montana, his targets included banks in Hamilton, Bozeman, Billings, and Missoula. Even after his initial co-defendants were apprehended, Waldon continued his scheme for several months. Overall, Waldon and his co-defendants managed to steal $141,822 from 30 bank branches across three states. As for Waldon himself, he is now in debt to six Montana banks, namely First Interstate Bank, TrailWest Bank, First Security Bank, Opportunity Bank of Montana, Farmers State Bank, and Western Security Bank, with a total owed amount of $103,149.

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