BOSTON – A Quincy man was sentenced today in federal court in Boston for a million-dollar bank fraud scheme in which he deposited hundreds of counterfeit checks. Hui Zhang, 42, was sentenced by U.S. District Court Judge Myong J. Joun to two years in prison to be followed by three years of supervised release, with the first year to be served on home confinement. Zhang was also ordered to pay restitution and forfeiture of $1,035,350. In March 2024, Zhang pleaded guilty to one count of bank fraud.
The scheme, which lasted for approximately two years, saw Zhang open fraudulent bank accounts under false identities into which he electronically deposited approximately 114 counterfeit checks – totaling more than $1 million. The counterfeit checks were drawn on the account of a Boston-based retailer. Zhang subsequently withdrew hundreds of thousands of dollars in cash from these accounts via ATMs.
This is not the first time Zhang has found himself on the wrong side of the law. In 2017, Zhang was convicted of forgery of a check and other offenses and was sentenced to probation. In 2018, after being found in possession of various forged credit cards and fraudulent identity cards, Zhang was convicted of identity fraud and sentenced to two years in prison.
The scheme came to an end after a lengthy investigation by the Federal Bureau of Investigation. Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Assistant U.S. Attorney William F. Abely, Chief of the Criminal Division, prosecuted the case.
Zhang’s sentence is a stark reminder of the consequences of engaging in financial crimes. ‘This sentence serves as a warning to those who would seek to profit from fake checks and stolen identities,’ said Levy. ‘We will continue to work tirelessly to protect our communities from these types of crimes.’
The case serves as a reminder of the importance of vigilance in the face of financial crimes. As Cohen noted, ‘The FBI will continue to work with our law enforcement partners to identify and prosecute those who engage in these types of crimes.’
At Grimy Times, we will continue to follow this case and bring you updates as more information becomes available. In the meantime, it is clear that Zhang’s actions have had a significant impact on the community. The restitution and forfeiture ordered by the court will help to make amends for the harm caused by Zhang’s actions.
Related Federal Cases
- Massachusetts Woman Pleads Guilty to Bank Fraud Scheme · Massachusetts
- Harvard-Trained FinServ Founder Faces Multi-Million Dollar Fraud Charges · Massachusetts
- Methuen Man Gets 27 Months for Identity Theft Scheme · Massachusetts
- Fake Check Fixers Sentenced · Massachusetts
- Telexfree President Guilty of $3B Pyramid Scheme · Massachusetts
Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
