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Buffalo Man Caught in Bank Fraud Scheme
A Buffalo man, Antwan Green, 32, has pleaded guilty to a charge of conspiracy to commit bank fraud in a scheme known as ‘Check Kiting’. This crime, which Green and others were involved in, defrauds local area banks by depositing large checks from accounts with insufficient funds or closed accounts, then withdrawing smaller amounts before the bank determines the checks are not supported.
Green was part of a group of five defendants, all of whom have been convicted. The investigation into this scheme was led by the United States Secret Service, under the direction of Special Agent in Charge Tracy Gast.
Assistant U.S. Attorney Russell T. Ippolito, Jr. stated that Green and others were successful in defrauding local banks, making away with a total of $35,547.93. However, the intended loss was over $367,000. This ‘Check Kiting’ scheme is a serious crime that can have devastating effects on the local community and economy.
Green’s plea is the culmination of a thorough investigation, and he now faces a maximum sentence of 30 years in prison, a fine of $1,000,000, or both. Sentencing will be scheduled at a later date before Chief U.S. District Judge William M. Skretny.
The U.S. Attorney for the Western District of New York, William J. Hochul, Jr., announced Green’s guilty plea, emphasizing the severity of the crime and the importance of holding those responsible accountable.
The ‘Check Kiting’ scheme is a clever but ultimately illegal way to obtain money from banks. It’s a crime that undermines trust in the financial system and can have far-reaching consequences for individuals and businesses. Green’s guilty plea is a step towards bringing justice to the victims of this crime.
The people of Buffalo and the surrounding area can rest assured that the authorities are taking action to prevent similar crimes from happening in the future. With the conviction of Green and the others involved, we can begin to rebuild trust in our financial institutions and economy.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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