In what must be considered one of the most impressive flaws in the history of lucrative deception, an inmate in a Georgia high-security prison allegedly impersonated a 94-year-old billionaire on calls with the billionaire’s bank, and somehow drained $11 million from his accounts. Perhaps most impressively, the prisoner claimed to have carried out the entire fraud using a cell phone that was confiscated from inside his cell.
the story, First published by the Atlanta Journal-Constitution, comes from within the Georgia Department of Corrections Special Management Unit. This unit houses an inmate named Arthur Lee Caufield Jr., who is serving a 14-year sentence for armed robbery.
Arthur Lee somehow managed to convince Charles Schwab’s customer service reps that he was a 94-year-old Hollywood billionaire and film CEO, Sidney Kimmel. After gaining the trust of the bank, Arthur got $11 million from Kimmel’s accounts to a gold brokerage in Idaho. Then use the money to buy 6106 American Eagle 1 ounce gold coins.
He is getting better.
Then, this genius prankster chartered a private jet to pick up gold in Idaho. The plane traveled the distance to Atlanta where it was collected by a group of conspirators. The conspirators proceeded to sell the coins and used the cash proceeds to purchase a range of things, including the house. And not just a humble under-the-radar abode. They purchased a $4.4 million home in the posh Buckhead neighborhood of Atlanta.
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Now, Cofield is facing charges of conspiracy to commit bank fraud and money laundering, while two of his colleagues are also facing charges of their own for their role in facilitating the scheme. Coffield and the others pleaded not guilty to the charges.
Federal authorities first discovered the alleged fraud in 2020, but not much has been reported on the case in the past two years. But now, the Atlanta Journal-Constitution reports that Kimmel is the identity of the target of scammers, and that there may be other billionaires who Cofield has attempted to impersonate as well. Federal prosecutor Scott McAfee put it this way in court in December of 2020:
“Mr. Coffield has discovered a way to gain access to the accounts of high net worth individuals, frankly billionaires, who are scattered across the country.”
Prosecutors identified Nicole Wertheim, the wife of billionaire Herbert Wertheim, as one of Coffield’s targets, claiming he took about $2.5 million from an account of hers and used it to buy more gold coins. But no charges were brought in this case.
Government authorities are reportedly still looking for some of the gold that Coffield allegedly bought using the stolen money, and he hasn’t found the home he paid $500,000 in cash down payment.
The case is still ongoing, but authorities claim that he ran a complex identity theft scheme with smuggled cell phones while under heavy security. Fortunately for Kimmel and Wertheim, Charles Schwab immediately repaid their accounts as soon as the alleged fraud was discovered.
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