Navy Federal Credit Union Employee Arrested in $800,000 Fraud Scheme

Navy Federal Credit Union Employee Arrested in $800,000 Fraud Scheme
Steven Verrett

In February 2024, the Columbus Police Department launched a fraud investigation involving Steven Verrett, an employee at Navy Federal Credit Union (NFCU). Verrett allegedly used unsuspecting customers at his desk as a cover to deposit counterfeit checks, initiate fraudulent vehicle loans, and divert funds to himself and accomplices. The initial discovery of five stolen checks, totaling over $800,000, prompted the investigation.

Working alongside NFCU Internal Investigators, law enforcement identified at least eight NFCU accounts linked to the fraudulent activities. On May 28, 2024, Steven Verrett was apprehended by the Columbus Police Department’s Property Crimes Unit. He was subsequently taken to Muscogee County Jail and charged with multiple offenses, including forgery, identity fraud, and theft-related charges.

Verrett faces charges such as Forgery 3rd Degree (x5), Identity Fraud (x3), Theft by Deception (Felony), and others, including crimes related to computer misuse.

Authorities have hinted at the possibility of additional charges against Verrett and anticipate further arrests involving his alleged co-conspirators.

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