Man Arrested in Maryland for $93,000 Wake County Identity Fraud

Wake County authorities arrested 45 year old Wisdom Banks Bey on Dec. 23 after tracing a complex identity theft and fraud scheme that resulted in more than $93,000 in losses recorded in a resident's name. Deputies first learned of irregular activity on Dec. 10 when a victim in the 3700 block of Cassaro Lane near Zebulon discovered numerous bank accounts and credit cards showing arrears on their credit report.

Investigators found additional evidence dating to October that indicated the victim had multiple companies registered in their name in the state of Maryland. Those entities carried outstanding bank accounts, credit cards and loans, producing losses of over $93,000 in the victim's name over an 18 month period. The Wake County Sheriff's Office traced those irregularities to Banks Bey and secured arrest warrants detailing the allegations.

Warrants charged Banks Bey with eight counts of identity theft, seven counts of obtaining property by false pretenses, seven counts of accessing computers, five counts of financial transaction card theft and five counts of financial transaction card fraud. He was taken into custody in Maryland by Maryland State Police and is being held without bond pending further proceedings.

For Wake County residents the case serves as a reminder of how identity crimes can unfold over months and involve multiple jurisdictions. Fraud that originates with a single credit report anomaly can expand to include company registrations and multiple financial instruments, increasing both financial loss and the complexity of recovery. Local law enforcement cooperation with out of state authorities in this case illustrates how multi state investigations proceed when alleged perpetrators are arrested away from the county where victims live.

Residents who discover unexpected accounts or credit issues are encouraged to report them promptly to local law enforcement and to contact their financial institutions and credit bureaus to place alerts and dispute fraudulent entries. The county will follow extradition and prosecution steps as the case moves through the courts, and Wake County agencies are continuing to monitor related complaints as they work to protect consumers and hold alleged perpetrators accountable.