WICHITA COUNTY (KFDX/KJTL) — A Seymour man has been charged with the theft of almost $120,000 in a so-called kiting scheme at a Wichita Falls financial institution.
Justin Copeland is charged with theft over $30,000 and has posted a bond of $10,000.
The institution in the 2100 block of Seymour Highway discovered the theft of more than $118,000 during an audit last April.
Bank officials stated the scheme involved a revolving method of deception from 2022 into this year by exploiting a business credit card payment system.
A secondary account was set up at another institution to make payments to the first account. It was done in a way that the payments reset the credit line back to the original line of credit, but the institution’s software did not recognize the payments were returned due to insufficient funds.
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