Sprawling $12 Million Fraud And Money Laundering Scheme Has A Nantucket Connection

A fraud and money-laundering scheme uncovered by the U.S. Attorney's Office has a Nantucket connection.

U.S. Attorney Leah B. Foley announced late last week that four individuals had been indicted for the theft and fraudulent deposit of more than $12.2 million in stolen U.S. Treasury checks, and more than $1 million in other fraudulent activity targeting federally insured banks, credit unions, and their customers.

Foley said the proceeds from the thefts were used to purchase luxury watches and jewelry, as well as to extend a $425,000 Nantucket real estate loan. 

A federal grand jury has indicted the following defendants on one count each of bank fraud conspiracy and money laundering conspiracy:

• David Obeng, 24, of Dedham
• Lynley Joseph, 26, of Brockton
• Lindsley Georges, 33, of Everett
• Shaunsayh Addo, 33, of Leominster

All four defendants were arrested last Thursday morning. Following initial appearances in federal court in Boston, Joseph and Addo were released on conditions, and Obeng and Georges remain detained pending hearings to be scheduled at a later date.

No further information was provided by Foley and her office regarding the Nantucket real estate loan, and it was unclear what island property is associated with the case.

“United States Treasury checks belong to the American people," Foley said in a press release. "Defendants who steal and deposit them, like the defendants charged today, steal from all of us. Fraudsters who saddle banks, credit unions, and their customers with million-dollar losses harm consumers too. My office and our law enforcement partners remain committed to pursuing justice for victims of financial scams, and we will hold accountable those who attempt to prey on the public’s money and American financial institutions.”

A second indictment also charged Obeng with one count of wire fraud conspiracy, five counts of bank fraud, two counts of money laundering and one count of aggravated identity theft.

According to court records, Georges was previously convicted of money laundering in the District of Massachusetts in January 2022. Georges was serving a term of federal supervised release at the time of his alleged participation in the conspiracies charged in the indictment.

According to the first indictment, the defendants allegedly coordinated the theft and deposit of U.S. Treasury checks, totaling at least $12.2 million between 2023 and 2026. Each check was issued to a true payee but was altered to be payable to shell companies the suspects controlled. Each of the four men indicted in the scheme is alleged to have directed the deposit of fraudulent checks at banks or credit unions in and around Metro Boston in exchange for a cut of the proceeds of those deposits.

Following the initial deposits, the suspects attempted to conceal the origin of the stolen funds, including, among other things, the purchase and deposit of cashier’s checks, the purchase of $310,000 in luxury watches and the $425,000 real estate loan secured by property on Nantucket.

“Today, we arrested four men for their alleged roles in a years-long, sprawling fraud ring that not only defrauded multiple banks and credit unions out of millions of dollars, but dragged dozens of innocent victims into their scheme. These men apparently thought they found an easy way to score some fast cash, but they couldn’t have been more wrong. Fraud is never the answer if you feel your paycheck isn’t up to par,” said Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation’s Boston Division. “The FBI will investigate anyone engaged in this sort of alleged criminal behavior. To those thinking about following in their footsteps: get ready to learn the same lesson, courtesy of the FBI and our law enforcement partners.”

The arrests last Thursday were just the latest chapter in the unraveling fraud scheme. Eight other individuals in June 2025 and one other individual in June 2026 were charged with the theft of government funds or bank fraud in connection with the deposit of the same stolen Treasury checks.

According to the second indictment, Obeng and others allegedly obtained unauthorized electronic access to customers' bank and retirement accounts, including by sending texts that were made to appear to be from the victims’ banks seeking to confirm a recent purchase and by posing as bank representatives in calls with victims. During those calls, the suspects allegedly posed as fraud investigators and persuaded victims to provide codes needed to authorize withdrawals from their accounts under the guise of verifying their identities. Obeng and others allegedly used this access to transfer funds from victim accounts to accounts Obeng and his coconspirators controlled. The indictment also alleges that Obeng and others recruited individuals to go into bank branches and pose as customers, open accounts, transfer or deposit fraud proceeds into these accounts, and then withdraw the funds in cash.

The four men are facing up to 30 years in prison on the charges of bank fraud and conspiracy, and another 20 years in prison on the money laundering accusations.