A federal grand jury has indicted four men for allegedly carrying out a fraud scheme targeting the State Employees' Credit Union (SECU). The defendants—Keyondre Deionta Purvis, Calvin Daminice Stewart, Michael Raekwon Ryner, and Quavedrian Da’mon Gibson—are accused of manipulating financial systems to withdraw funds unlawfully, according to the U.S. Attorney’s Office for the Eastern District of North Carolina.
The indictment states that in the summer of 2022, the defendants exploited a security loophole to inflate account balances during SECU’s reconciliation process, allowing them to withdraw amounts exceeding the actual account balances. The accounts were left with negative balances that were not restored. U.S. Attorney Ellis Boyle emphasized the importance of protecting financial institutions serving North Carolina.
Stewart’s initial court appearance was before U.S. Magistrate Judge James E. Gates. The FBI is leading the investigation, with Assistant U.S. Attorney David G. Beraka handling the prosecution. Authorities say they are working to fully uncover the scheme and implement measures to prevent similar incidents.
