"Swiperz Only" Leader Sentenced to 9 Years in Prison for Bank Fraud, Money Laundering

Malik Jahlil Bell, also known as "Leek Obama," a 28-year-old resident of Columbia, has been sentenced to 9 years in federal prison for his role in leading a massive bank fraud scheme known as "Swiperz Only." Bell and his co-defendants exploited a customer service benefit from banks that provided provisional credits to accounts when fraudulent activity was reported. They would then make multiple withdrawals of these credits from ATM machines, leaving the accounts with large negative balances. The scheme was brazenly advertised on social media, with Bell himself posting music videos and pictures of stacks of cash and opulent jewelry.

Key Takeaways:

• Malik Jahlil Bell, a/k/a "Leek Obama," was sentenced to 108 months (9 years) in federal prison for bank fraud, money laundering, and possession of a firearm by a convicted felon.
• Bell was the leader of a fraud ring known as "Swiperz Only," which exploited a customer service benefit from banks that provided provisional credits to accounts when fraudulent activity was reported.
• The scheme involved making multiple withdrawals of these provisional credits from ATM machines, leaving the accounts with large negative balances.
• Bell and his co-defendants flaunted their crimes on social media, posting pictures and videos of cash, jewelry, and firearms.
• The group purchased custom diamond jewelry and branded clothing with the "Swiperz Only" logo, which depicted a man standing in front of an ATM with a duffle bag filled with cash.
• United States District Judge Mary G. Lewis ordered Bell to repay $238,652.87 in restitution to the victim bank.
• Bell will serve a five-year term of court-ordered supervision after completing his prison sentence.
• There is no parole in the federal system.

Statistics:

• Bell was given a sentence of 108 months (9 years) in federal prison.
• The "Swiperz Only" ring made off with $238,652.87 from the victim bank.
• Bell will serve 5 years of court-ordered supervision after his prison sentence.

Sources:

• U.S. Attorney's Office, Department of Justice news release (no date mentioned in the original text)