An Alabama man has been arrested and charged with participating in a multimillion-dollar fraud scheme.
The Tennessee Bureau of Investigation (TBI) reports that they detained Wilbert Cannaday, 64, near Birmingham on October 24, 2024.
Davidson County (Tennessee) jail is imprisoning Cannaday on charges of theft over $250,000 and money laundering.
The TBI said the investigation began earlier this year, when they received information from the victim organization, which alleged losses of more than $26 million. We suspect Cannaday of persuading at least two organization employees to alter their bank routing information and redirect payments.
Agents have recovered more than $20 million.
The investigation is still underway, and additional arrests are possible.