NASHVILLE – Special agents assigned to the Tennessee Bureau of Investigation’s Cybercrime & Digital Evidence Unit have arrested and charged an Alabama man accused of participating in a multi-million-dollar fraud scheme.

TBI agents began investigating the scheme earlier this year, after receiving information from the victim organization, which reported losses of more than $26 million. Following a thorough investigation, agents identified a man, Wilbert Cannaday (DOB 10/18/1960), as a participant in the scheme, which involved a coordinated effort to convince at least two employees of the organization to change bank routing information and fraudulently divert payments. 

Throughout the investigation, agents were able to recover more than $20 million of the funds. Efforts to investigate the scheme and recover the victim’s funds continue.

On October 24th, with the assistance of the Alabama Law Enforcement Agency and Pelham Police Department, agents arrested Cannaday near Birmingham, Alabama. Today, a Davidson County judge formally charged Cannaday with one count of Theft Over $250,000 and one count of Money Laundering, after which authorities booked him into the Davidson County Jail, where, at the time of this release, he remained in custody on $1 million.

The investigation remains active and ongoing, with the potential for additional arrests and recoveries.

The charges and allegations referenced in this release are merely accusations of criminal conduct, not evidence. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt and convicted through due process of law.

###