Wilfredo Acosta Hidalgo, U.S. Treasury Check Scheme, North Carolina 2011

A Raleigh man has been charged with involvement in a scheme to cash fraudulent U.S. Treasury checks issued to third-parties. Wilfredo Acosta Hidalgo, a resident of Raleigh, North Carolina, is accused of providing U.S. Treasury checks to check cashers in exchange for cash.

Between 2011 and 2012, Hidalgo conspired with two check cashers to cash U.S. Treasury checks issued as a result of fraudulent tax returns filed in the names of third-parties. The checks were issued to individuals in whose names the fraudulent tax returns were filed.

The third-party payees purportedly lived in Florida, North Carolina, Virginia, Maryland, Delaware, Pennsylvania and New Jersey. However, the check cashers deposited the U.S. Treasury checks into their business bank accounts and then provided Hidalgo with cash equal to the value of the check minus a check cashing fee. The third-party payees were not present when the checks were cashed.

According to the indictment, the U.S. Treasury checks ranged in value from $4,000 to $8,000. If convicted, Hidalgo faces a statutory maximum sentence of five years in prison for the conspiracy charge and 10 years in prison for each count of theft of public funds.

He also faces substantial monetary penalties, supervised release and restitution. The defendant is presumed innocent until proven guilty beyond a reasonable doubt.

Acting Assistant Attorney General Caroline D. Ciraolo and U.S. Attorney Thomas G. Walker commended special agents of IRS-Criminal Investigation, who investigated the case and Trial Attorneys Nathan P. Brooks and Lauren M. Castaldi of the Tax Division, who are prosecuting this case.

This case serves as a reminder of the importance of safeguarding public funds and the consequences of engaging in fraudulent activities. The alleged actions of Wilfredo Acosta Hidalgo demonstrate a blatant disregard for the law and the trust placed in him to handle sensitive financial information.

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