Cedric Lynch, Bank Fraud, New York 2023
Cedric Lynch Pleads Guilty to Nationwide Bank Fraud Scheme
ALBANY, NEW YORK – In a shocking turn of events, 38-year-old Cedric Lynch of Orlando, Florida, has pleaded guilty to conspiracy to commit bank fraud and aggravated identity theft. Lynch's guilty plea comes after a thorough investigation by the FBI Westchester Resident Agency of the New York Field Office and the Putnam County Sheriff’s Department.
The charges against Lynch carry a minimum term of 2 years in prison and a maximum term of 30 years, a fine of up to $1.25 million, and a supervised release term of up to 5 years. Lynch will be sentenced on October 24, 2023, by United States District Judge Mae A. D’Agostino.
Lynch was one of nine men charged in a 13-count indictment for their roles in the scheme. The “Felony Lane Gang” targeted women at locations such as health and fitness centers, daycares, and parks, breaking into their cars and stealing debit cards, credit cards, checkbooks, and photo identifications. The stolen items were then used to commit bank fraud by recruiting women to impersonate the smash-and-grab victims and cash checks in drive-through bank lanes.
The recruited check cashers were often suffering from addiction and were provided with payment at least partially in narcotics. Lynch admitted that the loss amount from the conspiracy that was foreseeable to him is between $40,000 and $95,000.
Other members of the gang have also pleaded guilty and are awaiting sentencing. Keyshawn Arnold, age 25, of Schenectady, New York, is scheduled to be sentenced on August 4, 2023, while Gary Grier, age 37, of Fort Lauderdale, Florida, and Joshua Mallory, age 37, of Fort Lauderdale, are scheduled to be sentenced on August 25, 2023.
This case is a stark reminder of the dangers of identity theft and the importance of protecting one's personal information. The FBI and local law enforcement agencies urge citizens to be vigilant and report any suspicious activity to the authorities.
The case was investigated by the FBI Westchester Resident Agency of the New York Field Office and the Putnam County Sheriff’s Department, with assistance from the FBI Field Offices in Albany, Miami, and Salt Lake City, and Resident Agencies in Savannah, Georgia, and Portland, Maine, and from the U.S. Attorney’s Office for the District of Maine.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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