A Dallas resident has been arrested in connection with a fraudulent scheme involving U.S. Treasury checks worth over $15 million. Kendrick Lamont Fugett, 34, was taken into custody on August 20, facing charges of bank fraud and aggravated identity theft.
Fugett is accused of utilizing stolen identities and counterfeit identification documents to deposit a staggering amount of U.S. Treasury checks that were intended for various businesses across the nation. According to court documents, he allegedly impersonated the chief financial officer of a technology company based in Austin, successfully depositing a check exceeding $13.8 million at an Origin Bank branch in Dallas.
In addition to this, Fugett is reported to have assumed the identity of a billionaire chairman associated with a holding company to cash a $447,000 check at a Bank of America branch in Mesquite. During this transaction, he presented a fraudulent Illinois driver’s license.
Fugett was already wanted on multiple outstanding warrants for fraud, identity theft, and providing false statements from various law enforcement agencies, including the Collin County Sheriff’s Office and the Arlington Police Department. His previous arrest in July 2024 occurred in Nashville, where he attempted to open bank accounts using fake identities.
If convicted, Fugett could face a maximum sentence of 30 years for bank fraud, along with a mandatory two-year sentence for aggravated identity theft.
Statements from Officials
U.S. Attorney Ryan Raybould commented on the severity of the alleged crimes, stating, “Stealing identities to siphon millions of dollars from the U.S. Treasury is not just fraud; it’s an attack on the integrity of our financial system.” He emphasized that Fugett’s actions involved impersonating corporate officers and manipulating banks to access taxpayer funds, underscoring a commitment to aggressively pursue financial crimes.
Christopher J. Altemus Jr., Special Agent in Charge of IRS Criminal Investigation’s Texas Field Office, echoed this sentiment, highlighting the deliberate and sophisticated nature of Fugett’s alleged scheme. He reaffirmed the agency’s dedication to protecting the integrity of the U.S. financial system and ensuring accountability for anyone attempting to defraud taxpayers.
Fugett is scheduled to make his initial appearance in federal court on August 21.
