Several arrested in check cashing scheme - Cincinnati News, FOX19-WXIX TV

Several arrested in check cashing scheme

CINCINNATI, OH (FOX19) - For the past several months, members of the Criminal Investigation Section's Major Offenders Unit collaborated with investigators from local banks and the Hamilton County Prosecutor's Office to investigate a check-cashing ring that has plagued these banks and businesses, resulting in losses exceeding $120,000. 

This investigation resulted in the indictment of 53 individuals. The subjects were charged with either felony theft (53 counts) or felony complicity to theft (44 charges).

Police say the suspects would open checking accounts, usually with a minimal deposit, and withdraw most of the initial deposit via counter checks or an ATM.  To inflate their account, the suspects deposit bad checks from others with whom they are working in collusion.  Then they begin issuing checks to others, knowing the banks will not honor these checks because the account is closed or has insufficient funds to pay the checks.

Officers from the Cincinnati Police Department's Intelligence Section, Vortex Unit, and Major Offenders Unit, and members of the Southern Ohio Fugitive Apprehension Strike Team (SOFAST) conducted a sweep to locate and apprehend these 53 subjects on Thursday.  These officers arrested 20 of the 53-targeted individuals.  This resulted in the service of 35 felony, four misdemeanor, and nine traffic warrants.

During this sweep, four additional subjects were arrested on unrelated charges, resulting in the service of three felony, two misdemeanor, and one traffic warrants.  In total, officers arrested 24 persons and served 38 felony, six misdemeanor, and 10 traffic warrants. 

 

Powered by Frankly