Pennsylvania man sentenced for bank fraud | USAO-NDWV

ELKINS, WEST VIRGINIA – Randall Joseph Smail, of Jeannette, Pennsylvania, was sentenced today to two days of incarceration for bank fraud, U.S. Attorney Bill Powell announced.

Smail, age 23, pled guilty to one count of “Bank Fraud” in July 2020. Smail defrauded Pendleton Community Bank of approximately $552,533. Smail created a fictitious account statement from Kraken Bitcoin Exchange, showing he had $640,000,000 in Bitcoin currency that he produced when applying for a loan from the bank, knowing he did not own any Bitcoin currency. He also produced other fictitious paperwork, showing $10,000,000 in another bank that he transferred from his cryptocurrency account, all of which he knew was false. He used these false documents to defraud the bank.

Smail was ordered to pay $773,093.90 in restitution to the victims. 

Assistant U.S. Attorney Danae Demasi-Lemon prosecuted the case on behalf of the government. The West Virginia State Police investigated.

U.S. District Judge Thomas S. Kleeh presided.

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