Jaymark Larios, Bank Fraud, Rhode Island 2025

BANK FRAUD ROCKS RHODE ISLAND

A 23-year-old man from New York has admitted to his role in a brazen bank fraud scheme that targeted financial institutions in Rhode Island and nine other states.

Jaymark Larios, a resident of the Bronx, pleaded guilty on Tuesday to conspiracy to commit bank fraud before a federal judge in Providence. He is scheduled to be sentenced on June 10, 2025.

According to court documents, Larios was part of a group that recruited individuals and obtained their personal identifying information (PII) to create fake IDs and checks. The scheme, which was carried out in 2024 and 2025, resulted in the attempted defrauding of $143,000 from banks in Rhode Island, Massachusetts, New Hampshire, Vermont, Pennsylvania, New Jersey, Ohio, Maryland, West Virginia, and elsewhere.

Larios and his co-conspirators successfully swindled $93,200 from 22 banks. The group would travel with their recruits to banks, where they would cash out the fake checks.

This is not the first time someone has pleaded guilty to their role in the bank fraud scheme. Paul Keenan, a 54-year-old man from the Bronx, admitted to his involvement in February 2025 and is scheduled to be sentenced on May 27, 2025.

The cases are being prosecuted by Assistant United States Attorney Christine Lowell. Homeland Security Investigations and the East Providence Police Department led the investigation, with assistance from the Portsmouth Police Department.

Larios’ guilty plea is a significant blow to the bank fraud ring, which has left a trail of financial devastation in its wake. As the investigation continues, it is clear that the perpetrators will face justice.

Related Federal Cases