MONT BELVIEU, Texas – Multiple arrests have been made in connection to a bank fraud investigation led by the Mont Belvieu Police Department.
The department said the investigation into a series of seemingly unrelated financial fraud cases started in June 2024, where victims reported funds stolen from their bank accounts via unauthorized wire transactions.
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The investigation expanded to include other regional law enforcement agencies when it was determined that other agencies were investigating similar cases.
35 fraud victims in Mont Belvieu, Baytown, Chambers County, Houston, and Liberty County were identified by investigators and the combined losses suffered by those victims are at least $350,000. Mont Belvieu police say losses may reach up to a total of $600,000 in total funds stolen and laundered through other bank accounts.
The multi-agency investigation, dubbed “Operation Cash Back,” led to authorities identifying four primary suspects in the scheme.
Police named the four suspects as:
- Gregory Wayne Edwards III, 23, of Baytown - Charged with money laundering, engaging in organized criminal activity, and breach of computer security. Bond is $450,000.
- Doc Leon Frank, 25, of Baytown - Charged with money laundering and engaging in organized criminal activity. Bond is $300,000.
- Jayson Vershawn Gipson, 20, of Baytown - Charged with money laundering, engaging in organized criminal activity, and breach of computer security. Bond is $300,000.
- Lajewel Simon McGilbray, 21, of Baytown - Charged with money laundering, engaging in organized criminal activity, and breach of computer security. Bond is $600,000.
Investigators say they believe the four suspects recruited other people into the scheme and orchestrated it.
“The scheme involved suspects who obtained victims stolen financial data then used various online messaging apps to recruit other lower-level individual participants who allowed their legitimate bank accounts to be used to funnel stolen funds through,” explained Chief Jimmy Ellison of the Mont Belvieu Police Department.
Mont Belvieu PD, the Chambers County Sheriff’s Office, Chambers County District Attorney’s Office, Gulf Coast Violent Offenders Task Force, Galveston PD, Homeland Security Investigations, and the United States Marshal’s Service have executed 40 search warrants for electronic devices and data in the past week as part of the investigation. Investigators also searched two homes in McNair and Baytown.
The department said multiple arrests have been made throughout Southeast Texas and as far away as Georgia and Illinois.
“Due to the ongoing nature of this investigation and the potential for additional defendants to be identified, MBPD is only identifying the four (4) primary named suspects at this time,” the department said.
Over $10,000 in cash as well as illegal drugs have also been seized as part of the investigation.
Multiple bank accounts investigators say were used in the scheme have also been frozen.
“Financial crimes like these are becoming far too common and growing more complex. This multi-agency investigation serves as a testament to tenacious detective work and our invaluable local, state, and federal partnerships that help bring justice to victims of these types of crimes. We especially appreciate the partnership with Chambers County District Attorney Cheryl Lieck Henry and her staff for helping send the message that if you victimize someone in Chambers County, you will answer for it,” said Ellison.
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