Introduction to the $30M Bank Fraud Scheme
A 73-year-old woman accused of posing as a heiress and defrauding nearly $30 million from banks and other financial institutions is sought by the FBI, the agency said in this week.
Mary Carole McDonnell, a Michigan woman who uses several aliases, is wanted in connection with the fraud scheme in Los Angeles and Orange Counties. She is accused of posing as heiress to the McDonnell Aircraft family and falsely claiming to have an $80 million secret trust.
The McDonnell Aircraft Corporation Background
The McDonnell Aircraft Corporation, an aerospace manufacturer best known for its military aircraft, was founded in 1939 and became McDonnell Douglas in a 1967 merger.
NBC News has reached out to the James S. McDonnell Foundation for comment.
The Bank Fraud Scheme
According to the FBI, the bank fraud scheme started in July 2017 and continued to May 2018, when McDonnell allegedly tried to obtain money, funds, assets and property owned by Banc of California, headquartered in Los Angeles.
McDonnell was the chief executive officer of now-defunct Burbank production company Bellum Entertainment LLC at the time, NBC News reported. The company was having trouble meeting financial obligations, according to a federal indictment. Several civil complaints alleged that McDonnell owed more that $1 million to creditors, according to authorities.
Estimated Losses and Charges
"Through this scheme, McDonnell allegedly and fraudulently obtained a total of approximately $14.7 million from the bank to which she knew she was not entitled and has not paid back," the FBI said in a statement. "It is alleged that McDonnell also defrauded additional financial institutions in a similar fashion, with an estimated loss of over $15 million."
A federal arrest warrant was issued in December 2018 after she was charged with bank fraud and aggravated identity theft.
Current Status and Location
The FBI said McDonnell is believed to be living in Dubai.
Conclusion
The case of Mary Carole McDonnell serves as a reminder of the importance of verifying identities and claims, especially when dealing with large sums of money and financial institutions. The FBI’s pursuit of McDonnell demonstrates their commitment to bringing those who commit fraud to justice, no matter where they may be hiding.
FAQs
Q: What is the total estimated loss from the bank fraud scheme?
A: The total estimated loss is approximately $30 million.
Q: What is the current status of Mary Carole McDonnell?
A: McDonnell is currently wanted by the FBI and is believed to be living in Dubai.
Q: What charges has McDonnell been issued with?
A: McDonnell has been charged with bank fraud and aggravated identity theft.
Q: What was the time frame of the bank fraud scheme?
A: The scheme started in July 2017 and continued to May 2018.
