index-news
Placeholder Banner Image

new jersey man Charged With passing counterfeit checks

FOR IMMEDIATE RELEASE
August 30, 2012

 

PHILADELPHIA - Stephan Isaac Sherak, 35, of Roosevelt, New Jersey, was charged today by Indictment with 32 counts of passing counterfeit checks and 13 counts of bank fraud, announced United States Attorney Zane David Memeger.

The indictment alleges that Sherak opened accounts at 13 different banks using his own name, an alias, or the name of a fictitious company. It is further alleged that he deposited hundreds of thousands of dollars worth of checks into these accounts knowing that the checks were either counterfeit or were written from bank accounts with insufficient funds. Sherak allegedly intended to use these deposits to make withdrawals from the accounts he opened, thereby defrauding the banks in question.

Sherak faces a maximum sentence of 710 years imprisonment. He also faces a three year period of supervised release, a fine of up to $11.25 million, and a $4,500 special assessment.

The case was investigated by the United States Secret Service and is being prosecuted by Assistant United States Attorney Michael S. Lowe.

UNITED STATES ATTORNEY'S OFFICE, EASTERN DISTRICTof PENNSYLVANIA
Suite 1250, 615 Chestnut Street, Philadelphia, PA 19106
PATTY HARTMAN, Media Contact, 215-861-8525

 

Return to Top