An Ipswich man, Blessing Mudzinge, has been sentenced to more than four years in prison for orchestrating a sophisticated banking fraud that stole nearly £500,000 from Barclays and Lloyds. The 41-year-old was sentenced at Ipswich Crown Court after pleading guilty to multiple charges, including conspiracy to commit fraud and money laundering.
Over a period of 26 months, Mudzinge, of Skylark Lane, masterminded what prosecutors called a “sophisticated account takeover fraud.” Using stolen customer information, he and his accomplices siphoned money from bank accounts, resulting in losses of £475,918 for Barclays and £15,000 for Lloyds. The banks were forced to absorb the losses, and customers were not left out of pocket.
According to the prosecution, Mudzinge impersonated company directors during phone calls with bank staff. He tricked employees into changing account details, which gave him access to transfer large sums of money. The court heard that around £100,000 of the stolen funds passed through Mudzinge’s personal accounts, although they are now empty.
Judge Martyn Levett, in his sentencing remarks, condemned Mudzinge’s role as the ringleader. “You provided scripts to be used when speaking on the phone with banking staff, and you guided others,” the judge stated. Judge Levett also noted how Mudzinge laundered the money through “mule accounts” and even explored using cryptocurrency to quickly move the stolen funds.
The judge also described how modern criminals are creating “Frankenstein accounts” fake accounts assembled from stolen personal details, like utility bills and intercepted mail. These fabricated profiles are just convincing enough to deceive banks.
Mudzinge’s defense lawyer, Steven Ball, said his client turned to crime after accumulating £12,500 in debt. “He feels he has been left to carry the can for unknown others who benefited far more than he did,” Ball argued.
