OLD SAYBROOK MAN CHARGED WITH BANK FRAUD
David B. Fein, United States Attorney for the District of Connecticut, and Kimberly K. Mertz, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that PAUL E. BRENNAN III, 44, formerly of Old Saybrook, has been charged by criminal complaint with bank fraud. BRENNAN, who is currently detained in state custody, appeared on March 15 before United States Magistrate Judge Joan G. Margolis in New Haven.
As alleged in the criminal complaint, from at least 2009 until at least 2011, BRENNAN engaged in a check fraud scheme through which he defrauded and attempted to defraud numerous financial institutions. During the course of the scheme, BRENNAN convinced individuals to cash checks for him using their bank accounts even though he knew that the checks were drawn on closed accounts or accounts with a zero balance and would be returned for nonpayment. BRENNAN also passed fraudulent checks at several check cashing businesses in Connecticut.
The charge of bank fraud carries a maximum term of imprisonment of 30 years.
U.S. Attorney Fein stressed that a complaint is only a charge and is not evidence of guilt. The defendant is entitled to have this matter presented to a grand jury and, in the event an indictment is returned, he is entitled to a trial at which it will be the Government’s burden to prove guilt beyond a reasonable doubt.
Citizens with information that may be helpful to the investigation are encouraged to contact FBI Special Agent Daniel S. Harkness at (860) 439-6107.
This matter is being investigated by the Federal Bureau of Investigation with assistance from the Old Saybrook Police Department. The case is being prosecuted by Special Assistant United States Attorney Kerry L. Quinn.
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