Jarrod Smith, Bank Fraud, Rhode Island 2025

A brazen bank fraud scheme that saw tens-of-thousands of dollars’ worth of fake checks deposited into unsuspecting individuals’ bank accounts has landed a Providence man behind bars.

Jarrod Smith, 44, was sentenced to 24 months of incarceration to be followed by three years of supervised release for his role in the conspiracy to defraud banks.

The scheme, which was uncovered by the Federal Bureau of Investigation, involved Smith creating and depositing counterfeit checks using information from stolen checks, primarily business checks.

Smith would then recruit and entice individuals, often via social media, to open bank accounts, which he would then use to deposit the fake checks.

Once the checks were deposited, Smith or another member of the conspiracy would withdraw the proceeds from the bank accounts.

As part of the conspiracy, Smith also paid the individuals whose bank accounts were used for the use of their accounts.

Smith pleaded guilty on February 18, 2025, to a charge of conspiracy to commit bank fraud, and was also sentenced to serve 12 months of incarceration for violating his current term of supervised release.

The case was prosecuted by Assistant United States Attorneys Christine Lowell, Taylor Dean, and Denise Barton.

The matter was investigated by the Federal Bureau of Investigation.

Smith’s sentence is a stark reminder of the serious consequences of participating in white-collar crimes.

Jarrod Smith’s full name is a required fact and includes: Jarrod Smith

The exact criminal charges include: Conspiracy to Commit Bank Fraud

The city and state where the crime occurred is: Providence, Rhode Island

The exact date of the crime is not specified, but the sentencing occurred on: N/A

The sentence or outcome is: 24 months of incarceration, followed by three years of supervised release, and 12 months of incarceration for violating his current term of supervised release

The dollar amounts involved in the scheme are: tens-of-thousands of dollars

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