Cedar Rapids man charged in federal court with identity theft

A Cedar Rapids man is charged with stealing identities of others for the purpose of opening credit cards and applying for loans, according to an indictment unsealed Thursday in federal court.

Terry L. Gantt, 28, is charged with one count of aggravated identity theft and one count of wire fraud.

According to the indictment, on at least 22 occasions Gantt used the identities of others to apply for credit cards and loans between October 2012 and February 2013. As part of the scheme, Gantt used the names of at least two actual individuals.

Gantt is accused of assuming the stolen identities while talking with the credit card companies and other lenders regarding the applications and the availabity of credit and funds.

According to the indictment, he would also make purchases after the credit lines were established and didn't make the payments owed on the credit cards and loan agreements.

If convicted on both charges, Gantt faces a mandatory two years and up to 22 years in federal prison. He could also be fined up to $500,000, and a term of supervised release after serving prison time.

Gantt's trial is set for Feb. 17.