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Colbert’s Counterfeit Cash Caper: $70,000 Stolen in Bank Fraud Scheme
An Atlanta, Georgia man has been caught in a web of deceit, pleading guilty to conspiring to commit bank fraud in a stolen check scheme that netted $69,951 in cashed counterfeit checks.
Rasheed Colbert, 32, of Atlanta, made the plea in U.S. District Court in Portland, Maine, according to court records. Colbert and his coconspirator, 35-year-old Mantavious Jones, of Atlanta, stole checks from local businesses in March 2022.
The checks were then used to create counterfeit checks, which were given to unhoused individuals who were recruited for what they believed was a job in exchange for money. The individuals were provided with work-style clothing and driven to bank branches to cash the checks, all part of a clever scam orchestrated by Colbert and Jones.
The scheme was brought to a halt by the New England Cyber Fraud Task Force and the Kennebunk Police Department, with valuable assistance from the Saco and Scarborough police departments. Jones, who is currently serving 16 months in prison for his role in the scheme, will likely be a key witness in Colbert’s sentencing.
Colbert now faces up to 30 years imprisonment and a maximum fine of $1 million, followed by up to five years of supervised release. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The case serves as a stark reminder of the dangers of bank fraud and the importance of law enforcement’s efforts to crack down on such schemes. As the Grimy Times continues to investigate, one thing is clear: Colbert’s counterfeit cash caper has finally come to an end.
The investigation and subsequent arrest of Colbert and Jones demonstrate the dedication of law enforcement agencies to protecting the public from financial crimes. The New England Cyber Fraud Task Force and its partners have once again proven themselves to be a force to be reckoned with in the fight against bank fraud.
As the case moves forward, the Grimy Times will provide updates and insights into the world of bank fraud and the individuals who commit such crimes. In the meantime, the public is reminded to remain vigilant and report any suspicious activity to the authorities.
Key Facts
- State: Maine
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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