Curtis Weston, age 35, from Rockwell City, Iowa, pled guilty on October 2, 2026, to one count of money laundering. 

In a plea agreement, Weston admitted that he and another individual transferred no less than $21,992,037 in fraudulently obtained loan funds.  Weston had an account at a bank where $21,992,037 in funds from fraudulently obtained loans in Weston’s name and the names of 26 other unwitting customers were deposited. 

Beware of scams impersonating FDIC/OIG Personnel. Scammers might use the FDIC or FDIC OIG’s seal or logo to make their demand for funds appear to look legitimate. 

Join FDIC OIG’s Chief of Staff and one of our Special Agents in Charge as they discuss impersonation scams: what they are, how to identify them, and how to best protect yourself and others from falling victim to them.

We contracted with KPMG LLP to assess the effectiveness of the FDIC’s information security program and practices. 

Under Federal law and regulation, the FDIC is responsible for safeguarding information, data, and assets from loss, theft, or compromise.

The OIG has posted two alerts and a video highlighting the dangers of Pig Butchering Schemes—both to consumers and banks alike.