Steven Kessler, Money Laundering, Pennsylvania 2011

PHILADELPHIA, PA – May 23, 2026 – Steven Kessler, 50, of Cherry Hill, NJ, one of the owners of Cottman Check Cashing, LP, a check cashing agency located in Philadelphia, PA, has been charged with a serious crime.

Kessler, a business owner, has been accused of aiding and abetting aggravated structuring of financial transactions. He was also charged with conspiring to structure financial transactions.

According to an indictment, between 2009 and 2011, Kessler allegedly conspired with a sports bookmaker, Jerold Cohen, charged elsewhere, to help the bookmaker cash 76 checks from one of his bettors, totaling approximately $670,000, without triggering a report that would have to be provided to the U.S. government. Kessler allegedly helped Cohen cash those checks at Cottman Check Cashing.

The indictment states that Cohen obtained the 76 checks from a single bettor to settle the bettor’s losses. Cohen allegedly knew that a report would have to be filed with the government if he cashed any check over $10,000. To conceal the nature of his business and the total amount of his income, Cohen allegedly directed the bettor to write the checks in amounts just under $10,000. The bettor did as he was instructed and, because he was often in debt in an amount that far exceeded $10,000, the bettor would provide Cohen with several checks at one time, each for an amount just under $10,000.

Kessler’s alleged assistance included cashing the checks himself, failing to keep business records of most of the transactions, and making Cottman Check Cashing available to perform the money laundering. The indictment charges that the structured transactions were part of a pattern of illegal activity involving transactions of more than $100,000 in a 12-month period.

If convicted, Kessler faces up to 85 years in prison, three years of supervised release, a fine, a $900 special assessment, and criminal forfeiture of up to $670,175. Cottman Check Cashing faces supervised release, a fine, an $800 special assessment, and criminal forfeiture of up to $670,175.

An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.

The case was investigated by the Internal Revenue Service Criminal Investigations and the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Nancy E. Potts.

Defendant: Steven Kessler, 50

Criminal Charges: Aiding and abetting aggravated structuring of financial transactions, Conspiring to structure financial transactions

City and State: Philadelphia, PA

Exact Date: 2009-2011 (indictment period)

Sentence or Outcome: Up to 85 years in prison, three years of supervised release, a fine, a $900 special assessment, and criminal forfeiture of up to $670,175

Dollar Amounts: $670,000, $670,175

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