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Supreme Court upholds L.A. man's bank fraud charge for siphoning money from a customer's account

Supreme Court upholds L.A. man's bank fraud charge for siphoning money from a customer's account

Someone who steals money from a customer’s bank account can be prosecuted for defrauding the bank, the Supreme Court ruled Monday, largely rejecting an appeal from a Los Angeles man who siphoned off nearly $300,000 from the checking account of a Taiwanese businessman.

Lawrence Shaw was accused of intercepting mail from Bank of America that was intended for Stanley Hsu, the businessman. According to the court documents, Shaw schemed to steal money by opening a PayPal account in his name and then transferring money from that account to accounts of his own.

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