A 10-month prison sentence and $69,744 in restitution await Rasheed Colbert, a 33-year-old Atlanta man, after his conviction in a major bank fraud scheme.
U.S. District Judge John A. Woodcock, Jr. handed down the sentence in U.S. District Court in Portland, Maine, following Colbert’s guilty plea on May 30, 2024. This marked the second time a Georgia man has been sentenced for his role in the scheme.
The scheme involved Colbert and his coconspirators stealing checks from the mailboxes of local businesses in March 2022. They then used the stolen checks to create counterfeit checks, making them payable to unhoused individuals Colbert and others recruited to cash them.
Colbert and his coconspirators netted just under $70,000 from the cashed counterfeit checks. The investigation revealed a sophisticated operation with Colbert and his accomplices making off with the funds.
The New England Cyber Fraud Task Force and Kennebunk Police Department led the investigation, with valuable assistance from the Saco and Scarborough police departments.
Coconspirator Mantavious Jones, 36, also of Atlanta, received a 16-month prison sentence for his role in the scheme, to be followed by three years of supervised release. This harsh sentence serves as a warning to those involved in similar schemes.
The case highlights the importance of vigilance in protecting against financial crimes. As law enforcement agencies continue to crack down on such schemes, it is essential for businesses and individuals to remain cautious and report any suspicious activity.
Related Federal Cases
- Colbert’s Counterfeit Cash Caper: $70,000 Stolen in Bank Fraud Scheme · Georgia
- Portland Counterfeiter Sentenced to 10 Months · Georgia
- Bank Fraud and Tax Evasion Lands Former Cumberland Man in Hot Water · New Hampshire
- OCC Officials Criticized for Ineffectual Bank Fraud Prevention, Was… · New York
- Letitia James Demands Senate KOSA, New York NY, 2024 · Texas
Key Facts
- State: Maine
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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