NORFOLK, Va. (WAVY) — A Norfolk man has pleaded guilty to aggravated identity theft and bank fraud in connection with a fraud scheme targeting Navy Federal Credit Union.

According to the Department of Justice, 28-year-old Taimak Peters, along with co-conspirators, devised a scheme to defraud Navy Federal Credit Union out of hundreds of thousands of dollars.

From April through July 2018, Peters was part of a group that stole the identities of various victims, including their names, social security numbers, and dates of birth. Using this information, the conspirators established accounts at Navy Federal Credit Union and applied for automobile loans in the victims’ names from information secured from internet websites such as Autotrader.

Once the loans were approved, a conspirator would go to a Navy Federal Branch, retrieve the loan check, then take it to a different branch to cash. The conspirators then split the proceeds amongst themselves.

Peters admitted in court to supplying stolen identities in this fashion on at least three such transactions. Peters’ specific action caused Navy Federal Credit Union to lose over $57,000, the overall conspiracy caused a loss exceeding $300,000.

He is the fourth person to plead guilty in this scheme. Co-conspirators, Raven Dixon, 29, of Norfolk, Ryan Eugene Gregory, 38, of Norfolk, and Thomas Jules Rogers, 33 of Prince George’s County, Maryland, all previously pleaded guilty and were sentenced for their roles in the conspiracy.

Peters is scheduled to be sentenced on January 20 and faces between 2 to 32 years in prison.