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Canadian Man Pleads Guilty to Bank Fraud
A 31-year-old man from Montreal, Quebec, Canada, has pleaded guilty to bank fraud in a New York court. Ali Haddad admitted to depositing false and fraudulent pre-authorized debits into a business bank account at an M&T Bank branch in Buffalo.
The scheme, which took place between January 15, 2009, and February 19, 2009, resulted in a loss of $28,000 to M&T Bank. Haddad also committed similar fraudulent acts against Bank of America between December 24, 2008, and January 26, 2009, but was unable to unlawfully transmit funds from the account.
Haddad, a citizen and resident of Canada, opened the business bank account in the name of Symcore, Inc. and used wire communication to transmit funds to bank accounts in Canada. He withdrew a total of $28,000 from the account, which represented funds from the deposit of the false and fraudulent pre-authorized debits.
The investigation into the case 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. is handling the prosecution.
The charge of bank fraud carries a maximum sentence of 30 years in prison, a fine of $1,000,000, or both. Sentencing is scheduled for July 1, 2013, at 1:00 p.m. before U.S. District Judge Richard J. Arcara.
The guilty plea is a significant blow to Haddad, who faces a maximum sentence of 30 years in prison and a fine of $1,000,000. The case serves as a reminder of the importance of vigilance in the banking industry and the consequences of committing financial crimes.
The case is a reminder that financial crimes can have serious consequences and that law enforcement agencies will pursue those who commit them. The guilty plea is a significant step in bringing Haddad to justice and holding him accountable for his actions.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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