U.S. District Judge Steven D. Merryday has sentenced Igor Shushpanov, a former banker from Tampa, to 15 months in federal prison for bank fraud. The court ordered Shushpanov to pay $407,398 in restitution and to forfeit $303,093.26 in proceeds obtained through his criminal activities. Shushpanov had pleaded guilty on November 18, 2024.
Court documents reveal that from February 2017 until approximately July 30, 2022, Shushpanov engaged in fraudulent activities by opening checking accounts at multiple credit unions within the Federal Home Loan Bank system. He then acquired credit cards or personal lines of credit from these institutions. After receiving the credit facilities, he made purchases or cash advances up to the limit and attempted to settle the balances using worthless checks from accounts under his control.
Shushpanov's scheme involved exploiting the time gap between when financial institutions credited his account balances and when the checks were returned due to insufficient funds. During this period, he would again max out his credit limits, increasing his negative balances. This pattern continued as he deposited more worthless checks and made further purchases on credit cards or personal lines of credit. Ultimately, Shushpanov filed for bankruptcy to evade repayment to the defrauded credit unions.
The investigation was conducted by the Federal Housing Finance Agency – Office of Inspector General and the Federal Bureau of Investigation. The Office of the United States Trustee for the Middle District of Florida, Tampa Division, provided significant investigative support. Special Assistant United States Attorney Chris Poor prosecuted the case.