SAN FRANCISCO – Joseph Albert Corey was sentenced in federal court today to 108 months for two separate fraud schemes causing more than $3.5 million in losses, U.S. Attorney Stephanie M. Hinds and the Special Agent in Charge of the Federal Bureau of Investigation Craig D. Fair. The sentence was handed down by U.S. District Judge Edward M. Chen.
Corey, 57, and last known to live in or near Los Angeles, was initially charged in 2019 with depositing fraudulent checks into accounts opened under the false name “Dennis Dupont.” Posing as Dennis Dupont, Corey opened bank accounts for two fake companies, “Medical Practice Management” and “Medtronic Inc.” He funded those accounts by depositing unauthorized checks drawn on a bank account belonging to a legitimate business, the government’s sentencing memo describes. Corey issued checks to the victim company’s account totaling more than $370,000. When he managed to deposit a check, Corey laundered the proceeds by using the stolen money to buy gold coins from a precious metals company. He picked up shipments of gold coins from rented mailboxes in the Bay Area.
Once arrested, Corey pleaded guilty in November 2019 to a federal charge of mail fraud. Corey, however, fled from his February 2020 sentencing hearing.
While on the run, Corey went on to commit a second fraud scheme which involved a conspiracy to defraud financial lenders. The conspiracy was underway as early as March 2019 and continued through October 2020. Corey admitted in his current plea agreement that as part of the scheme, he assumed the identities of several doctors. Corey would impersonate a doctor to get a loan supposedly to buy an expensive medical device from a legitimate supply company. Once the loan was approved, Corey directed the lender to deposit the loaned purchase funds into a specific bank account. Unbeknownst to the lender, Corey had previously opened this account in or similar to the name of the medical device supply company. When the lender deposited the funds in the account, Corey appropriated the money. Corey then took on another set of fake identities and used the funds to buy gold from various precious metals dealers, obscuring the trail of the stolen loan money.
Corey remained a fugitive until he was detained by Mexican authorities in January 2021 and deported from Mexico to the United States. According to a government file, when Corey was arrested in Mexico, he had dozens of fake IDs, including one identifying him as a CIA “special agent”.
Corey admitted in his plea agreement that he defrauded more than 10 victims in this second scheme and caused losses of at least $3.5 million.
In addition to the 108-month prison sentence, U.S. District Judge Edward M. Chen ordered Corey to pay restitution. The sentence also included a three-year supervision period after Corey’s release from prison. Corey was in custody during the sentencing hearing and begins serving his sentence immediately.
Mohit Gourisaria is the Assistant United States Attorney who prosecuted the case, with help from Maddi Wachs, Maribel Gallegos and Kay Konopaske. The charge is the result of an investigation by the Federal Bureau of Investigation.