Richmond Man Pleads Guilty to Mail Theft and Bank Fraud Scheme

RICHMOND, Va. – A Richmond man pleaded guilty today to conspiring to carry out a bank fraud scheme that targeted victims whose personal and financial information the defendant and his co-conspirators had obtained by stealing mail from United States Postal Service (USPS) mailboxes.

According to court documents, Olden Ellerbe III, 24, conspired with other individuals to steal or otherwise unlawfully obtain U.S. mail, sometimes using stolen or otherwise misappropriated USPS “arrow” keys, which unlock all Postal Service blue collection boxes within a given geographic area. Ellerbe and his co-conspirators obtained the personal and financial information of numerous victims through these mail thefts and misappropriations, and utilized that stolen information to fraudulently withdraw funds from those victims’ accounts at local banking institutions.

Ellerbe and his co-conspirators targeted the victims’ financial accounts through a variety of means, to include creating fictitious checks drafted on the victims’ bank accounts; utilizing the victims’ stolen debit and/or credit cards to withdraw funds from the victims’ bank accounts; and applying for loans in the names of these victims (and then withdrawing the fraudulently obtained loan proceeds with the victims’ stolen debit cards).

At the time of his arrest on November 15, 2023, Ellerbe and another conspirator had just completed the final transaction in a series of fraudulent withdrawals—amounting to a total of $85,000—from a victim’s bank account. Ellerbe possessed both a Glock handgun and numerous items stolen from the U.S. mail, including 83 stolen checks, $59,940 in U.S. currency, nine stolen credit or debit cards, and six stolen U.S. savings bonds.

Ellerbe is scheduled to be sentenced on August 19. He faces a maximum penalty of 35 years in prison. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

Jessica D. Aber, U.S. Attorney for the Eastern District of Virginia, and Ajay D. Lall, Acting Inspector in Charge for the U.S. Postal Inspection Service – Washington Division, made the announcement after U.S. District Judge David J. Novak accepted the plea.

Assistant U.S. Attorneys Thomas A. Garnett and Robert Day are prosecuting the case.

U.S. Attorney Aber thanked Colette Wallace McEachin and the City of Richmond Office of the Commonwealth’s Attorney for their assistance in this matter.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 3:24-cr-9.