US Feds Arrest Three Men for Allegedly Duping Banks out of $10,000,000 and Funneling Cash to Crypto Exchanges - The Daily Hodl

• Three men have been arrested for scamming millions from US banks and moving the stolen money into foreign cryptocurrency exchanges.
• Zhong Shi Gao, Naifeng Xu, and Fei Jiang recruited individuals to open bank accounts, took control of the accounts, and filed fraudulent reports claiming unauthorized transactions.
• The banks would temporarily credit the money, allowing the perpetrators to withdraw or convert it into cryptocurrency before the fraud was discovered.
• The scheme stole over $10 million from nearly a dozen US banks and financial institutions.
• The accused are facing charges of bank fraud conspiracy, wire fraud conspiracy, money laundering conspiracy, and aggravated identity theft.

The article describes a criminal scheme involving scamming banks and financial institutions, which has a negative sentiment.