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Bordentown Car Dealer Sentenced for Fraudulent and Forgery Offenses

By Lependorf & Silverstein

An article featured on NJ.com reported that a Bordentown car dealer was sentenced to 33 months in federal prison for running a bank fraud, wire fraud, and money laundering scheme. Police officials reported that the suspect accumulated a multi-million dollar debt through his fraudulent scheme. The suspect routinely engaged in a fraudulent activity known as ?check kiting? by allegedly writing a check on one account and then depositing that amount into another, despite providing that his accounts had insufficient funds. Assistant U.S. Attorneys argued that this case requires an unavoidable prison sentence. In addition to the prison term, the suspect was to serve five years of supervised release and was ordered to pay back $6,945,096 in restitution...continue to full post

Full post as published by New Jersey Criminal Defense Blog on September 20, 2010 (boomark / email).