A Tampa banker faces a potential 30-year prison sentence and up to a $1 million fine after pleading guilty to defrauding several credit unions out of hundreds of thousands of dollars. Igor Shushpanov, who previously worked at JPMorgan Chase and Bank of America in Tampa, was charged with one count of bank fraud on September 20. He officially entered his guilty plea in court on Monday, as confirmed by U.S. Attorney for the Middle District of Florida, Roger Handberg.
Between early 2017 and summer 2022, Shushpanov exploited lines of credit from multiple unnamed credit unions. He used worthless checks to falsely pay off balances and quickly repeated the scheme before the checks were returned due to insufficient funds, according to the details provided by Handberg’s office. This cycle of fraud continued unchecked for years, accumulating substantial illegal profits.
“Shushpanov accepted responsibility for his actions by his plea of guilty to an information and plea agreement. He has shown and will continue to show remorse for his actions,” said his attorney, Mark O’Brien. “He looks forward to a brighter tomorrow.” Shushpanov used the stolen funds—approximately $303,000—to purchase stocks and invest in multifamily real estate projects. He later filed for Chapter 7 bankruptcy in an attempt to prevent the credit unions from collecting the outstanding debts.
As part of the legal process, Shushpanov has agreed to forfeit the ill-gotten proceeds. He is now awaiting sentencing, with Special Assistant U.S. Attorney Chris Poor handling the prosecution of the case. The outcome of this case serves as a stark reminder of the consequences of financial crimes in the banking industry.
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