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Press Release

Indictment Charges Bridgeport Man with Bank Fraud and Mail Theft Offenses

For Immediate Release
U.S. Attorney's Office, District of Connecticut

Vanessa Roberts Avery, United States Attorney for the District of Connecticut, and Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service, Boston Division, today announced that RONALD BOYD, 37, of Bridgeport, has been charged in an 18-count indictment with offenses related to the depositing of stolen and counterfeit checks at the Newtown Savings Bank.

On March 7, 2023, a federal grand jury in New Haven returned an indictment alleging that, between approximately November 2021 and April 2022, Boyd and others recruited individuals (“runners”) to open bank accounts at Newtown Savings Bank.  Boyd and others then used the bank accounts to conduct transactions so that the accounts appeared legitimate, known as “seasoning” the account.  Boyd deposited stolen and counterfeit checks into the runners’ accounts and then withdrew and attempted to withdraw money from the various accounts.

The indictment charges Boyd with one count of conspiracy to commit bank fraud, which carries a maximum term of imprisonment of 30 years; 10 counts of bank fraud, which carries a maximum term of imprisonment of 30 years on each count; and seven counts of possession of stolen mail, which carries a maximum term of imprisonment of five years on each count.

Boyd has been detained since May 8 when he was arrested on unrelated state charges.  He appeared yesterday before U.S. Magistrate Judge S. Dave Vatti in Bridgeport and entered pleas of not guilty to the federal charges.

U.S. Attorney Avery stressed that an indictment is not evidence of guilt. Charges are only allegations, and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

This matter is being investigated by U.S. Postal Inspection Service.  The case is being prosecuted by Assistant U.S. Attorney Robert S. Dearington.

Updated May 19, 2023

Financial Fraud