Zayra Olivia Alvarado, Theft of Public Money, New Mexico 2020

Santa Fe Woman Sentenced for Cashing Stolen Checks

Zayra Olivia Alvarado, a 38-year-old resident of Santa Fe, New Mexico, has been sentenced to a year in federal prison for her role in cashing U.S. Treasury checks that were fraudulently acquired.

Alvarado pleaded guilty on November 16, 2020, to five counts of theft of public money from the United States and one count of aiding and abetting the theft of public money from the United States.

According to court records, in 2014 and 2015, Alvarado used her position at Wells Fargo Bank to obtain U.S. Treasury tax refund checks that were fraudulently acquired. She then opened accounts in the names of the people to whom the checks were issued or searched for accounts with names similar to those on the checks.

Alvarado would then either cash the checks or deposit them into the accounts she had opened and withdraw funds from the accounts. Her actions resulted in a total loss of $23,195.

In addition to her prison term, Alvarado must pay restitution of $23,195. Upon her release from prison, Alvarado will be subject to three years of supervised release.

The investigation was led by the IRS Criminal Investigation. Assistant U.S. Attorneys Kimberly Brawley and Steve Kotz prosecuted the case.

Alvarado’s prison term is a result of her conviction on September 8. Her guilty plea and subsequent sentence serve as a warning to those who engage in similar financial crimes.

Alvarado’s actions not only affected the individuals who were victims of the stolen checks but also undermined the trust in the U.S. Treasury system.

The case highlights the importance of proper banking practices and the consequences of engaging in financial crimes.

As the investigation and prosecution of financial crimes continue, the public is reminded of the importance of reporting suspicious activity to the authorities.

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