Bridgeport Scammer Ronald Boyd Gets 27 Months for Bank Fraud Scheme

Bridgeport, CT – In a brazen case of financial deceit, Ronald Boyd, 38, of Bridgeport, was sentenced to 27 months in prison for operating a bank fraud scheme in the District of Connecticut.

According to court documents and statements made in court, Boyd and his cohorts recruited individuals, known as “runners,” to open bank accounts at Newtown Savings Bank between November 2021 and April 2022. The scheme, known as “seasoning” the account, involved using the bank accounts to conduct transactions, making them appear legitimate.

Boyd deposited counterfeit checks, as well as checks stolen from the U.S. Mail, into the runners’ accounts. He obtained the illegitimate checks from other coconspirators and either provided them to the runners for deposit or made the deposits himself through ATM transactions and mobile deposits. Boyd then withdrew money from the accounts using a runner’s debit card to make purchases and obtain cash back, or to conduct ATM and in-branch withdrawals.

Boyd, who has been detained since May 8, 2023, when he was arrested on unrelated state charges, pleaded guilty in federal court to conspiracy to commit bank fraud on March 8, 2024. This matter was investigated by the U.S. Postal Inspection Service and prosecuted by Assistant U.S. Attorney Robert S. Dearington.

As part of his sentence, Boyd will serve 27 months of imprisonment, followed by three years of supervised release. The sentence was handed down by U.S. District Judge Sarala V. Nagala in Hartford.

The case serves as a reminder of the importance of vigilance in the financial sector. “Bank fraud schemes like the one perpetrated by Ronald Boyd can have devastating consequences for individuals and businesses,” said Vanessa Roberts Avery, United States Attorney for the District of Connecticut. “We will continue to work tirelessly to investigate and prosecute those who engage in such schemes.”

The investigation and prosecution of Boyd’s bank fraud scheme is a testament to the dedication of law enforcement agencies and prosecutors in the District of Connecticut. The case highlights the need for increased awareness and education on the dangers of bank fraud and the importance of reporting suspicious activity to the authorities.

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