A New York resident has admitted in federal court to running a sophisticated fraud scheme that targeted Missouri banks with fake auto loan applications, according to a Department of Justice press release.
Theo D. Cooke, 34, pleaded guilty before Chief District Judge Beth Phillips to one count of bank fraud. The charge is tied to a series of online loan applications he submitted in early 2023, using stolen identities to steal money from financial institutions.
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According to court records, Cooke used someone else’s identity—including their name, birth date, and Social Security number—to apply for auto loans at Missouri-based banks. But it wasn’t just about the applications. Prosecutors revealed that he went to great lengths to make his scheme appear credible, submitting fake documents like a forged vehicle title, a counterfeit pay stub, and a fabricated Missouri auto insurance card—all in the name of the unsuspecting victim.
After getting loan approvals, Cooke personally visited a bank branch to complete the deals. In a bold move, he presented a driver’s license that featured his photo but matched the stolen identity’s name and details. That allowed him to sign the required security agreements and promissory notes, making everything seem legitimate to bank employees.
Investigators say the scam took place between January and May 2023, during which multiple financial institutions in Missouri were defrauded. In total, banks issued at least $199,000 in fraudulent automobile loans. The scheme came to light after red flags in some of the applications led to deeper investigation, eventually prompting a federal probe.
A New York man admitted in court to orchestrating an elaborate scheme that targeted banks in Missouri with fraudulent auto loan applications
Credit: Unsplash
Under federal law, Cooke could face up to 30 years in prison with no possibility of parole. His sentence will be determined by Judge Phillips, who will consider federal sentencing guidelines and a presentence report from the U.S. Probation Office. A sentencing date has not yet been scheduled.
The case is being prosecuted by Special Assistant U.S. Attorney Bradley Cooper, and the Federal Bureau of Investigation is leading the ongoing investigation. No further information has been released regarding potential additional charges.
