Coventry, CT man sentenced for participating in bank fraud scheme
March 10th, 2010 - 7:08 am ICT by BNO News ( Leave a comment )BRIDGEPORT, CONNECTICUT (BNO NEWS) – A Coventry, Connecticut, man was sentenced to 33 months in federal prison followed by five years of supervised release for his role in a bank fraud scheme, prosecutors announced on Tuesday.
Justin Edwards, 27, pleaded guilty to four counts of bank fraud and one count of conspiracy to commit bank fraud. Between July 2007 and March 2008, Edwards, Kyle Seibert and Timothy Taylor participated in a bank fraud scheme that defrauded victims of $89,082.
Seibert, of Canterbury, and Edwards stole balance transfer checks or convenience checks from residence mailboxes. The two criminals and Taylor, of Mansfield, then opened bank accounts in their name and forged the checks to make them payable to themselves. They deposited the money into their newly acquired accounts and withdrew the money before the bank noticed it was a fraudulent transaction.
The trio deposited approximately $188k in fraudulent checks and successfully withdrew $89k.
Taylor was sentenced to three years of probation while Seibert pleaded guilty and is currently awaiting sentencing.
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Tags: balance transfer, bank accounts, bank fraud, bno, bridgeport connecticut, canterbury, connecticut man, convenience checks, coventry connecticut, coventry ct, federal prison, fraud scheme, fraudulent checks, fraudulent transaction, mailboxes, probation, prosecutors, seibert, supervised release, timothy taylor