The Daily Hodl 2025-06-23 18:45:38

Bank Fraud Crew Scheming To Steal $250,000 Using Counterfeit Checks Sentenced to Prison: Report

Nearly a dozen individuals have been charged for their role in a $250,000 organized check fraud and identity theft scheme. Federal prosecutors with the U.S. Attorney’s Office for the Southern District of Alabama sentenced 10 people for a bank fraud scheme that took place from November 2021 to March 2024, FOX10 reports . Court documents reportedly show that victims of the scheme suffered over $49,000 in losses, and the intended losses amounted to over a quarter million dollars. Prosecutors say that the suspects stole checks from the mail and then altered their information before depositing them into various bank accounts under their control. The agents who executed search warrants on the suspects at their residences seized laptop computers, printers, cellphones, counterfeited and stolen checks, debit cards belonging to other people and other evidence hinting at fraud. All 10 of the individuals charged were between the ages of 20 and 25. Check fraud is also being witnessed in other places in the US. Prosecutors in New York recently arrested six individuals on allegations that they operated a sophisticated scheme that involved buying or obtaining keys to unlock Postal Service collection boxes in an effort to steal mail, bank cards and other bank account details. The group posted “millions of dollars” worth of checks for sale on a messaging application. They also deposited millions worth of fraudulent checks into accounts at national banks located on the East Coast, though no specific amounts were disclosed. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bank Fraud Crew Scheming To Steal $250,000 Using Counterfeit Checks Sentenced to Prison: Report appeared first on The Daily Hodl .