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Bank Check Theft Conspiracy Lands Baltimore Man in Prison
Greenbelt, Maryland – A foreign national has been sentenced to 34 months in federal prison for his role in a bank check theft conspiracy that targeted religious institutions. Daniel Velcu, 43, of Baltimore, was found guilty of conspiracy to commit bank fraud and wire fraud.
According to court documents, Velcu and his co-conspirators stole checks from the U.S. mail intended for religious institutions and deposited the illegally obtained funds into multiple fraudulent bank accounts at various victim financial institutions. The group, which included Velcu and his family members, used false names and identity documents to open bank accounts and receive ATM cards and account information.
Velcu and his co-conspirators then deposited stolen checks into the fraudulently opened bank accounts and withdrew cash using debit cards associated with the bank accounts. The group spent the illegally obtained proceeds using debit cards and other means. Velcu personally deposited at least 70 stolen checks, totaling at least $40,357.50, and those accounts received at least $48,987.44 from approximately 101 stolen checks.
During a search of Velcu’s residence and storage unit, law enforcement recovered approximately $87,064 in cash, assorted gold coins and jewelry, all of which are being forfeited as proceeds of the conspiracy. The group’s scheme resulted in a total loss of $1,313,499.79.
Velcu is required to pay $1,313,499.79 in restitution as part of his sentence. Five other conspirators have previously pleaded guilty to the conspiracy and were sentenced to up to five years in federal prison. Former bank employee Diape Seck was convicted after trial and faces a maximum sentence of 30 years in federal prison for each of conspiracy to commit bank fraud; bank fraud; making false entries in bank records; and receipt of a bribe or reward by a bank employee.
U.S. District Judge Theodore D. Chuang commended the U.S. Postal Inspection Service, HSI, the FDIC Office of Inspector General, the Montgomery County Police Department, the Cary Police Department, and the Williamson County Sheriff’s Office for their work in the investigation.
Assistant U.S. Attorney Elizabeth Wright prosecuted the case. Velcu’s sentence is a reminder that those who engage in such schemes will be held accountable for their actions.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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