2nd person arrested, accused of aiding Columbus bank employee in $480K worth of fraud

A second person has been arrested in a Columbus fraud case that involved hundreds of thousands of dollars being stolen, according to the Columbus Police Department.

Demetrius Redding, 46, was arrested Saturday over the alleged fraud, which was committed with the help of a Navy Federal Credit Union employee, according to police. Police said Redding, with Steven Verrett’s help, deposited four stolen checks totaling $480,142.91 in various bank accounts.

Redding is charged with four counts of third-degree forgery and four counts of criminal attempt of theft by deception, police said.

Redding is scheduled to appear in Recorder’s Court at 9 a.m. on Tuesday, according to police.

What was first arrest in Columbus fraud case?

Verrett was a Navy Federal Credit Union employee who was arrested after the Columbus Police Department discovered fraud activity amounting to more than $800,000, CPD said in a news release Wednesday, according to Ledger-Enquirer reporting .

Police said Verrett used legitimate customers at his desk as cover while he deposited counterfeit checks and opened fraudulent vehicle loans.

Verrett would then funnel the money back to himself and co-conspirators, according to police. Police said the initial five checks were reported stolen from the mail and amounted to more than $800,000.

Ledger-Enquirer reporting shows Verrett was facing 31 fraud-related charges, 18 of which were felonies, as of early June.