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LYNN MAN CONVICTED IN FRAUD AND IDENTITY THEFT SCHEME

MONDAY, DECEMBER 20, 2010

BOSTON, Mass. - Following a seven day jury trial, a Lynn man was convicted today in federal court of mail, wire, and bank fraud and aggravated identity theft in connection with a scheme to obtain cars and motorcycle under false pretenses.

STEVEN SOTO, 25, was convicted of participating in a scheme to defraud motorcycle and car dealerships, as well as banks, in connection with obtaining vehicles and financing for vehicles. The scheme involved Soto using the identities of others to buy cars and motorcycles. In some instances, Soto paid for the vehicles using counterfeit checks. In other instances, he posed as an identity-theft victim and financed the purchase through automobile loans obtained in the name of that victim.

District Judge Joseph L. Tauro scheduled sentencing for March 22, 2011. Soto faces up to 20 years in prison to be followed by three years of supervised release, and a $250,000 fine on the charges of mail and wire fraud, and 30 years in prison to be followed by five years of supervised release, and a $1 million fine on the charges of bank fraud. He faces a mandatory two year consecutive sentence on the charge of aggravated identity theft.

United States Attorney Carmen M. Ortiz and Special Agent in Charge Steven D. Ricciardi of the Secret Service’s Boston Field Office made the announcement today. The case was investigated by the U.S. Secret Service, in cooperation with the Massachusetts State Police and the Lynn Police Department. It is being prosecuted by Assistant U.S. Attorney John A. Capin.

 

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