Demetrius Redding, 46, has been arrested in connection with a significant fraud case in Columbus, where hundreds of thousands of dollars were allegedly stolen. The Columbus Police Department reported that Redding’s fraudulent activities were facilitated by Steven Verrett, a former employee of Navy Federal Credit Union.
According to police, Redding deposited four stolen checks amounting to $480,142.91 into various bank accounts. He faces four counts of third-degree forgery and four counts of criminal attempt of theft by deception. Redding is set to appear in Recorder’s Court at 9 a.m. on Tuesday.
Verrett, who was also arrested, was implicated in a broader scheme involving fraud activities exceeding $800,000. Investigators discovered that he exploited his position at Navy Federal Credit Union to deposit counterfeit checks and secure fraudulent vehicle loans while using legitimate customers as cover. Afterward, he funneled the illicit funds back to himself and his co-conspirators.
Police revealed that the initial five checks were reported stolen from the mail, contributing to the substantial sum involved in the case. As of early June, Verrett was facing 31 fraud-related charges, including 18 felony counts.