State News

Jul 9, 2014 3:30 PM by Associated Press

Banker Pleads Guilty to Stealing Nearly $800K

HOUSTON (AP) - A 33-year-old Houston banker has pleaded guilty to a federal charge that he stole nearly $800,000 from the accounts of a person from Nigeria who had died.

Prosecutors say Carlos Lavin Ibarra pleaded Wednesday to one count of bank fraud. They say he acted fraudulently when he purchased $779,000 in cashier's checks on JP Morgan Chase bank accounts owned by the Nigerian resident.

Ibarra made out the checks to various people he knew and deposited them in different bank accounts in Houston.

He's scheduled to be sentenced Sept. 29 and faces a maximum penalty of up to 30 years in prison.

As part of a plea deal Ibarra agreed to forfeit the $779,000.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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