19 Indicted in Connection With Massive Bank Fraud Conspiracy

Florida authorities have busted the “Trap Boys” gang, uncovering a massive check fraud conspiracy that spanned two years and affected hundreds of victims across the state.

At a Glance

19 individuals from Polk County were indicted for conspiracy to commit bank fraud.
The alleged fraud affected approximately 26 banks, 3 credit unions, and over 200 victims.
The operation reportedly spanned from July 2021 to November 2023, generating about $50,000 in fraudulent checks weekly.
Tyler Jacob, known as the “Money Man,” has been identified as the leader of the operation.
Collaboration between the FBI and Polk County Sheriff’s Office led to the gang’s dismantling.

Massive Fraud Operation Uncovered

The U.S. Attorney’s Office for the Middle District of Florida has announced a significant breakthrough in combating financial crime. A grand jury has indicted 19 individuals from Polk County for their alleged involvement in a widespread bank fraud conspiracy. The operation, carried out by a gang known as the “Trap Boys,” targeted various financial institutions and businesses across Florida, leaving a trail of financial destruction in its wake.

The scale of this fraudulent scheme is staggering. Over the course of two years, from July 2021 to November 2023, the gang reportedly managed to victimize approximately 26 banks, 3 credit unions, and more than 200 businesses. The operation allegedly was generating an estimated $50,000 in fraudulent checks on a weekly basis, highlighting the efficiency and audacity of the criminal enterprise.

Three gang members are headed back to prison and 19 others are facing federal charges in a large-scale conspiracy that victimized 200 people and businesses in Polk County. https://t.co/tBPjl2xOUB

— FOX 13 Tampa Bay (@FOX13News) November 19, 2024

The “Money Man” and His Methods

At the heart of this criminal operation was Tyler Jacob, a 24-year-old individual identified as the alleged ringleader. Known as the “Money Man,” Jacob was allegedly instrumental in perfecting the fraudulent scheme and recruiting others into the operation. His methods were sophisticated and far-reaching, involving the theft and alteration of checks, creation of fictitious checks, and exploitation of accomplices’ banking information to deposit fraudulent checks.

The gang’s criminal activities were not limited to financial fraud, according to authorities. They were also linked to retaliatory shootings and possession of fraudulent financial materials, indicating a multifaceted criminal enterprise that posed a significant threat to public safety.

Cracking the Case

The investigation into the “Trap Boys” gang began with a series of traffic stops in July 2022. During one of these stops, law enforcement discovered fraudulent checks and stolen personal information in Jacob’s vehicle. This discovery set in motion a comprehensive investigation that would ultimately lead to the gang’s downfall.

The subsequent investigation, dubbed “Operation Spin Cycle,” was a collaborative effort between the FBI and the Polk County Sheriff’s Office. This joint operation uncovered the full extent of the gang’s activities, including their alleged use of check writing software and online databases to create and alter checks. The gang’s targets were diverse, ranging from deceased individuals to residents of assisted living facilities and mentally incompetent persons.

The Indictments

The indictment of 19 individuals marks a significant victory for law enforcement in their fight against organized financial crime. If convicted, each defendant faces a maximum penalty of 30 years in federal prison, reflecting the severity of their alleged crimes.

Tyler Jacob has already pleaded guilty to multiple federal charges, including conspiracy, bank fraud, aggravated identity theft, destruction of evidence, and witness tampering. Two other key members, Jaquavious Green and Daquan Carey, have also pleaded guilty to federal firearms offenses. A number of other individuals are reportedly still under investigation.