PROVIDENCE, R.I. – A Johnston man who recruited individuals to allow counterfeit checks to be deposited into their accounts as part of a scheme to defraud banks; deposited counterfeit checks into those bank accounts; and aided and abetted in the withdrawal of funds from the accounts, was sentenced today to sixteen months in federal prison, announced United States Attorney Zachary A. Cunha.
According to charging documents and information presented to the court, beginning in October 2020, while on federal supervised release, having been convicted of bank fraud and sentenced in 2019 for participating in a similar conspiracy, Nestor Concepcion, 26, arranged for and coordinated the deposit of multiple counterfeit checks with an intended loss to banks totaling $71,717.77.
In this latest matter, Concepcion pleaded guilty on January 21, 2022, to conspiracy to commit bank fraud and three counts of bank fraud.
At sentencing today, U.S. District Court Judge William E. Smith sentenced Concepcion to sixteen months in federal prison to be followed by three years of federal supervised release. Conception was ordered to pay restitution totaling $33,635, representing the actual loss to banks.
The case was prosecuted by Assistant United States Attorney William J. Ferland.
The matter was investigated by the United States Postal Inspection Service.