40 People Arrested In Multi Million Dollar Counterfeit Check Cashing Scheme In NY

Published on May 05,2017
by InTheBlack
Nearly 40 people were indicted Wednesday, accused of stealing more than $1 million through a counterfeit check cashing scheme. Prosecutors say it's the biggest fraud of its kind they've ever seen, with the suspects living large with piles of cash and boasting on social media. They allegedly lured accomplices with the promise of luxury cars and big money in exchange for allowing the ringleaders to deposit phony checks into legitimate bank accounts, a practice known as "debit card cracking."
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