Charlotte man indicted in $1 million financial fraud scheme

A Charlotte man was indicted this week in connection with the theft of $1 million from 90 customer accounts at the financial services company TIAA-CREF.

Jamel Ski “Goo” Yates, 42, was indicted by a federal grand jury in Charlotte on wire fraud and wire fraud conspiracy charges. Each charge carries a maximum 20 years in prison and a $250,000 fine, according to federal prosecutors.

Yates was released on bail after making his first court appearance.

Prosecutors described Yates as an “insider” at TIAA-CREF.

Yates did not return a message left on his cell phone Friday. But on his voice mail, he says he is a “non-employee consultant” for TIAA-CREF.

In a statement, the company said it reimbursed all affected customer accounts in full and that it continues to cooperate with law enforcement “as requested.”

“This is an old case with no activity reported since 2010,” the statement said.

The U.S. Attorney’s Office said the charges against Yates are related to a scheme where customers’ accounts were unlawfully accessed in 2010 and 2011. According to an indictment, money was fraudulently transferred out of the accounts and deposited into other ones.

The money was then withdrawn from the accounts, prosecutors said.

In addition to Yates, six other people have either been charged or sentenced in connection with the scheme.

That includes Dural Samuels, 43, of Charlotte, who pleaded guilty this fall to wire fraud conspiracy and wire fraud. He awaits sentencing.

Prosecutors said Yates stole the TIAA-CREF account holders’ information and gave it to Samuels. Samuels then used a network of conspirators to deposit the money in their bank accounts or the accounts of others, prosecutors said.

Others charged in the case are:

▪  Shaka Stayman, 34, of Atlanta, who was sentenced to seven years in prison after pleading guilty to wire fraud conspiracy and wire fraud charges.

▪  Barry Shade, 38, of Florida, who was sentenced to two years in prison and was ordered to pay restitution of $251,147 after pleading guilty to wire fraud conspiracy charges.

▪  Abiola Oginni, 34, and Dwayne Reynolds, 30, both of Georgia, who each pleaded guilty to wire fraud conspiracy and await sentencing.

▪  Anthony Shawn Wilkerson, 45, of Georgia, who faces wire fraud conspiracy and wire fraud charges.

Staff researcher Maria David contributed.

This story was originally published November 20, 2015 at 10:29 AM with the headline "Charlotte man indicted in $1 million financial fraud scheme."