US citizen Dwayne C. Hans has been arrested for allegedly cheating a financial institution out of $134,000 by posing as an authorized representative of the company between April and July of this year and using the money to buy stocks and invest in real estate. The US Department of Justice announcement said Hans was caught before executing further theft of $1.5 million.

Hans posed as an authorized bank employee in order to conduct financial transactions on behalf of the institution, and duped corporate bank accounts into transferring money into his personal account. He then allegedly hacked SAM.gov website, which carries information on those providing services to the government, and replaced the financial institution’s bank account number with his own.

"As a result, the Pension Benefit Guarantee Corporation sent more than $1.5 million to the defendant instead of the financial institution.  These fraudulent wire transfers were reversed once they were detected," according to the Justice Department announcement.

For details, go to the DoJ release.