2021 | Courts

Silver Spring man convicted of money laundering of credit union accounts

Jury acquitted him of wire fraud conspiracy

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A federal jury convicted a Silver Spring man on Wednesday of money laundering and money laundering conspiracy in connection with a scheme to defraud account holders, the U.S. Attorney’s Office said Thursday.

Francis Arthur, 35, and other conspirators tried to get cash from account holders at a Maryland credit union between October 2016 and April 2017, according to a press release. The conspirators concealed the ownership of the money.

Evidence showed that conspirators took cash from the accounts and caused cashiers checks to be issued to them. The conspirators used the money to buy vehicles, according to the U.S. Attorney’s Office.

The U.S. Attorney’s Office did not identify the credit union, but Montgomery County police worked on the case, along with the U.S. Secret Service.

The jury found Arthur guilty of money laundering and money laundering conspiracy charges. He was acquitted of a wire fraud conspiracy charge. He faces up to 20 years in prison.

Peter Goldman, an attorney representing Arthur, could not immediately be reached for comment Thursday.

Dan Schere can be reached at daniel.schere@bethesdamagazine.com