Switched has a new home! Huffpost Tech.

Click here to visit the new home of Switched!

Hot on HuffPost Tech:

See More Stories
AOL Tech

Computer Consultant Allegedly Siphoned $1M From Utah Bank

by Ian Rowan on April 14, 2009 at 02:10 PM


When consultant jobs are few and far between, you have to make the most out of the ones you can get. Take, for instance, Zeldon Morris. When the Family First Credit Union in Orem, Utah hired the Provo man to fix some bugs in a recent computer upgrade, Morris decided to take some liberties with a few of the accounts, according to Provo's Daily Herald.

According to recently submitted court documents, Morris made false deposits via several electronic transfers into his personal and business accounts from June of 2008 to January of 2009 -- all to the tune of over $1 million. He allegedly used the money to remodel his home, pay off his two car notes, and cover a few mortgage payments. (At least he's propping up Sallie Mae!)

All of this came to the attention of the credit union last month when Morris' business partner, Eunyong Lee, blew the whistle after seeing some suspicious transactions and suspecting that they were related to fraud. Many technology business analysts have been predicting that, as the recession gets worse, more IT professionals will turn to fraud as a means of making money. Court documents say that Family First Credit Union would not have discovered Mr. Morris' scheme if it had not been for Mr. Lee. With that in mind, who knows what other scams we'll hear about long after they've been committed?

Morris was arrested last Wednesday, and arraigned the following day, entering a plea of not guilty. The alleged swindler has been charged with one count of bank fraud. [From: Daily Herald]

Related Links:

Tags: banks, business, crime, crime and punishment, CrimeAndPunishment, cyber crime, CyberCrime, identity theft, IdentityTheft, IT, recession

Add your comments

Please keep your comments relevant to this blog entry. Email addresses are never displayed, but they are required to confirm your comments.

When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.

To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.

HuffPost AOL Social News Most Popular