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Buffalo Woman Pleads Guilty to Bank Fraud
A 27-year-old Buffalo woman has pleaded guilty to bank fraud, a crime that carries a maximum penalty of 30 years in prison, a fine of $1,000,000 or both.
Nichole Dean, a resident of Buffalo, N.Y., entered her plea before U.S. Magistrate Judge Leslie G. Foschio in connection with a scheme sometimes referred to as “Check Kiting.”
According to Assistant U.S. Attorney Russell T. Ippolito, Jr., the defendant was part of a conspiracy to defraud local area banks. Dean would open bank accounts and deposit large checks to the accounts, but the deposited checks were written on accounts that had insufficient funds or on accounts that had been closed.
Before the banks could determine that the checks were not supported by any funds, Dean would withdraw smaller amounts from the accounts. Although Dean made away with $7,612.73, the amount of the intended loss was more than $36,000.
Co-conspirators Carlique Deberry, Sade Heath, and Sayonara Heath have all been convicted of similar charges. The plea is the culmination of an investigation by the United States Secret Service, under the direction of Special Agent in Charge Tracy Gast.
Sentencing will take place at a later date before Chief U.S. District Judge William M. Skretny. This case is a reminder that those who engage in financial crimes will be held accountable for their actions.
Nichole Dean’s actions not only caused financial harm to the banks involved but also undermined trust in the financial system. The public can rest assured that law enforcement is working tirelessly to protect consumers and keep our communities safe.
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Key Facts
- State: New York
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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