WHAM on MSN

New filings detail $18.9M check-kiting case of former Crescent Beach owner

A final report released by the receiver appointed in Five Star Bank’s lawsuit against Mott-Formicola and others outlines ...

A N.Y. Restaurateur Used a ‘Catch Me If You Can’ Banking Trick to Pull Off a $20 Million Fraud

Formicola, who pleaded guilty to financial institution fraud and money laundering, is scheduled for sentencing April 30 after ...
Truckinginfo

Trucking Officials Guilty In $3.6 Million Check-Kiting Scheme

Two officials with Ohio-based Dart Trucking have been found guilty of bank fraud charges related to a $3.6 million check-kiting scheme. Ad Loading... The U.S. Attorney’s Office for the Northern ...
Finextra

The High Stakes of Check Kiting: How Old School Fraud Exploits FIs

Last month, a major regional bank filed suit against a New York entrepreneur, alleging a check-kiting scheme that processed more than $72 million in fraudulent checks, resulting in $27 million in ...