A former employee of Navy Federal Credit Union (NFCU), Steven Verrett, is facing multiple fraud charges after allegedly depositing counterfeit checks worth more than $800,000 for himself and co-conspirators.
The Columbus Police Department (CPD) began investigating Verrett earlier this year after reports surfaced of fraudulent activities involving stolen checks. Investigators revealed that Verrett used legitimate NFCU customers as a cover while depositing counterfeit checks and initiating fraudulent vehicle loans. These funds were funneled to Verrett and several accomplices.
The initial five counterfeit checks, totaling over $800,000, were reported stolen from the mail. Further investigation uncovered at least eight Navy Federal accounts connected to the scheme.
Verrett was arrested on Tuesday and is currently being held at the Muscogee County Jail. He faces several charges, including:
- Five counts of third-degree forgery
- Three counts of identity fraud
- Two counts of criminal attempt theft by deception
- Theft by deception
- Financial transaction card forgery
- Computer trespass
- Computer invasion of privacy
- Computer forgery
Police expect additional arrests in connection to this ongoing fraud investigation. Verrett is scheduled to appear in Recorder’s Court on Friday at 9 a.m. for his preliminary hearing.