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Press Release

Schenectady Man Sentenced In Fraud Scheme

For Immediate Release
U.S. Attorney's Office, Northern District of New York
Internet Scam Targeted Online Purchasers of Used Cars and Other Vehicles

ALBANY, NEW YORK – Frederick Hollingshed, a/k/a Franklin Hollingshed, 48, of Schenectady, was sentenced today to 57 months imprisonment for his role in a fraud scheme where he obtained at least $70,000 from people who believed they were purchasing used vehicles advertised over the internet, announced United States Attorney Richard S. Hartunian, United States Secret Service Resident Agent in Charge William Leege, Social Security Administration Office of the Inspector General New York Field Division Special Agent in Charge Edward J. Ryan, and United States Postal Inspection Service Boston Division Inspector in Charge Shelly Binkowski. The sentence followed Hollingshed’s January 5, 2015 guilty plea to eight counts of wire fraud, one count of possession with the intent to use five or more identification documents, and one count of misuse of a Social Security number. The sentence was imposed by Chief United States District Judge Gary L. Sharpe.

In connection with his guilty plea, Hollingshed admitted that he used bank accounts and corporate entities that he controlled to receive money from people who falsely believed they were sending money to purchase used motorcycles, all-terrain vehicles, utility vehicles, trucks, and automobiles. He also admitted that he knowingly possessed seven Social Security cards with the intent to use them unlawfully, and that he knowingly presented a false Social Security number for the purpose of opening a bank account used in the scheme. As part of his sentence, Hollingshed was ordered to pay $70,500.80 in restitution to victims who wired funds to the accounts he controlled.

The prosecution resulted from a joint investigation by the United States Secret Service, United States Social Security Administration, United States Postal Inspection Service, and the Schenectady Police Department. The case was prosecuted by Assistant United States Attorney Sean O’Dowd.

Updated August 15, 2015

Financial Fraud