Nevada Man Sentenced to 6 Years for $3.49 Million Bank Fraud Scheme

A Nevada man, Kyle Eugene Duncan-Carle, has been sentenced to 72 months in prison for orchestrating a complex bank fraud scheme that targeted the US government and several companies. The 41-year-old defendant confessed to stealing US Treasury checks and the identities of their rightful recipients, using this information to open credit union accounts and deposit the stolen checks. This allowed him to withdraw the funds, resulting in significant financial losses for the victims.

The scheme, which took place between January and September 2023, involved the theft of at least eight Treasury checks totaling $7.97 million. However, the actual losses sustained by the victims, including the US government, financial institutions, and an insurance provider, amounted to $3.49 million. This discrepancy suggests that some of the stolen checks may have been recovered or that the total value of the checks was overstated.

Duncan-Carle's sentence includes five years of supervised release following his six-year prison term, as well as an order to pay restitution to his victims. He was arrested in Lyon County, Nevada, in the previous year and faced charges of bank fraud, aggravated identity theft, and receipt of stolen government property. The severity of his sentence reflects the seriousness of his crimes and the significant impact they had on the victims.

The case highlights the ongoing threat of financial fraud and the importance of robust security measures to protect against such crimes. It also underscores the need for vigilance on the part of financial institutions and government agencies in detecting and preventing fraudulent activities. The successful prosecution of Duncan-Carle serves as a reminder that those who engage in such criminal behavior will be held accountable for their actions.