Jae Ho Chung Sentenced For Multi-Million Dollar Bank ‘Bustout’ Scheme that used Counterfeit Checks

Jae Ho Chung Sentenced For Multi-Million Dollar Bank ‘Bustout’ Scheme that used Counterfeit Checks Leader of Multi-Million Dollar Bank ‘Bust...

Jae Ho Chung Sentenced For Multi-Million Dollar Bank ‘Bustout’ Scheme that used Counterfeit ChecksLeader of Multi-Million Dollar Bank ‘Bustout’ Scheme that used Counterfeit Checks Sentenced to over 5 Years in Federal Prison LOS ANGELES – A West Los Angeles man who masterminded a bank account ‘bustout’ scheme that defrauded financial institutions such as Bank of America and Chase Bank and cumulatively caused more than $15 million in losses has been sentenced to serve 63 months in federal prison. Jae Ho Chung, 46, who resides in Westwood, received the prison sentence on May 12 from United States District Judge John A. Kronstadt, who also ordered the defendant to pay nearly $2.