Strongsville woman indicted in Credit Letter scheme
A Strongsville woman was indicted for her role in forging letters of credit, causing Charter One Financial Services to lose more than $217,000, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.
Rachele L. Zona, 45, was charged with with one count of making, uttering and possessing counterfeit securities of an organization
The indictment charges that between on or about October 10, 2007, and on or about March 24, 2008, Zona knowingly made, uttered and possessed and knowingly aided and abetted the making, uttering and possession of five counterfeit and forged irrevocable letters of credit with face amounts ranging from $55,000 to $200,000 each, totaling $505,000, with the intent to deceive another person or organization.
As a result, Charter One Financial Services suffered losses in the amount of $217,127.88, according to the indictment.
If convicted, the defendant’s sentence will be determined by the Court after review of factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation.
This case is being prosecuted by Assistant U.S. Attorney Robert W. Kern of the Cleveland U.S. Attorney’s Office, following an investigation by the Cleveland Office of the United States Secret Service.
An Indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government's burden to prove guilt beyond a reasonable doubt.