A 42-year-old man from Connecticut has been taken into custody for his alleged role in a check fraud ring that stole hundreds of thousands of dollars from US banks.

In a website post, the Connecticut State Police say they’ve arrested and charged Eric J. Christian with violating the Corrupt Organizations & Racketeering Act, conspiracy to commit first-degree larceny, fraudulent use of an ATM, illegal possession of a personal identification information device, issuing a bad check between $500-$1,000, conspiracy to commit third-degree identity theft and third-degree forgery.

Police accuse Christian of participation in a check-kiting crew that defrauded US banks. Authorities say the thieves wrote bad checks from bank accounts with little to no money and deposited them into other accounts, making it appear that the funds existed. They would subsequently withdraw the funds before the check bounced. Christian has allegedly been recruiting individuals since 2020 to open accounts at various banks to facilitate the check fraud scheme.

Evidence in the arrest warrant shows the fraud scheme caused banks to lose more than $350,000, but authorities say the actual figure is believed to be much higher.

Six other individuals have also been arrested in connection with the case, with the expectation of more arrests. Christian is slated to appear in a Superior Court on May 22nd.

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The post Man Faces Multiple Charges in Alleged $350,000 Check Kiting Scam Targeting US Banks appeared first on The Daily Hodl.

A 42-year-old man from Connecticut has been taken into custody for his alleged role in a check fraud ring that stole hundreds of thousands of dollars from US banks.

In a website post, the Connecticut State Police say they’ve arrested and charged Eric J. Christian with violating the Corrupt Organizations & Racketeering Act, conspiracy to commit first-degree larceny, fraudulent use of an ATM, illegal possession of a personal identification information device, issuing a bad check between $500-$1,000, conspiracy to commit third-degree identity theft and third-degree forgery.

Police accuse Christian of participation in a check-kiting crew that defrauded US banks. Authorities say the thieves wrote bad checks from bank accounts with little to no money and deposited them into other accounts, making it appear that the funds existed. They would subsequently withdraw the funds before the check bounced. Christian has allegedly been recruiting individuals since 2020 to open accounts at various banks to facilitate the check fraud scheme.

Evidence in the arrest warrant shows the fraud scheme caused banks to lose more than $350,000, but authorities say the actual figure is believed to be much higher.

Six other individuals have also been arrested in connection with the case, with the expectation of more arrests. Christian is slated to appear in a Superior Court on May 22nd.

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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 Man Faces Multiple Charges in Alleged $350,000 Check Kiting Scam Targeting US Banks appeared first on The Daily Hodl.