ERIE, Pa. — A tip from a Widget Financial employee has uncovered a massive nationwide fraud scheme.

The scam involves stolen identities that were used to open bank accounts, obtain credit cards and file about 2,400 fraudulent federal tax returns that cost the U.S. Treasury an estimated $10 million, some of which was funneled to Nigeria, according to the U.S. Attorney's office.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.