Quincy Man Arrested for $1 Million Counterfeit Check Scheme

BOSTON – A Quincy man was arrested and charged today in connection with a bank fraud scheme involving approximately 114 counterfeit checks – totaling more than $1 million. 

Hui Zhang, 41, was charged with one count of bank fraud. Zhang was arrested this morning and will appear in federal court in Worcester at 3 p.m. today.

From in or around June 2020 through at least May 2022, Zhang allegedly opened fraudulent bank accounts under false identities, deposited over $1 million worth of approximately 114 counterfeit checks and then subsequently withdrew hundreds of thousands of dollars in cash from these accounts via ATMs. Zhang was allegedly identified in part by a tattoo on his left hand that was visible in surveillance footage of the ATM withdrawals. Zhang allegedly used the same IP address that was used to open one of the fraudulent bank accounts and to deposit counterfeit checks. 

The charge of bank fraud provides for a sentence of up to 30 years in prison, five years of supervised release and a fine of up to $1 million, or twice the gross proceeds. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Assistant U.S. Attorney William F. Abely, Chief of the Criminal Division is prosecuting the case.

The details contained in the charging document are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.