A federal grand jury sitting in Charlotte, NC indicted Michael Filipidis, 24, in September 2019 on wire fraud and aggravated identity theft charges, for allegedly stealing more than $800,000 from an elderly victim.
According to allegations contained in the indictment, beginning in or about December 2018, Filipidis engaged in a scheme to defraud an elderly individual, by falsely representing to the victim that Filipidis was a financial adviser with a financial institution, and that he could manage and invest the victim’s money.
Filipidis was employed by the financial institution, but worked at a call center. The indictment alleges that, based on Filipidis’s fraudulent claims, the victim provided Filipidis with access to the victim’s financial accounts, and authorized Filipidis to transfer funds to new brokerage accounts.
Filipidis then allegedly fraudulently diverted funds from the victim’s new brokerage accounts, as well as from the victim’s life insurance annuities and the victim’s other bank accounts, to bank accounts under Filipdis’s control. Filipidis is accused of then using and attempting to use the victim’s funds for Filipidis’s personal benefit.
Filipidis allegedly named himself the beneficiary of one of the new brokerage accounts without the knowledge and consent of the victim.
The indictment alleges that between December 2018 and February 2019, Filipidis diverted more than $800,000 of the victim’s funds, intended for Filipdis’s own benefit.
The wire fraud charge carries a maximum prison term of 20 years and a $250,000 fine. The aggravated identity theft charge carries a mandatory minimum term of two years in prison, to be served consecutively to any other term of imprisonment imposed.