Providence Man Admits to Role in Bank Fraud Conspiracy

PROVIDENCE – A Providence man has admitted to a federal judge that he participated in a conspiracy to defraud banks by creating and depositing  tens-of-thousands of dollars’ worth of bogus checks, announced Acting United States Attorney Sara Miron Bloom.

Jarrod Smith, 43, pleaded guilty on Tuesday to a charge of conspiracy to commit bank fraud.

Smith admitted to the court that he engaged in a fraud scheme that used information from stolen checks, primarily business checks, to create bogus checks that were then deposited into bank accounts of individuals that he or other members of the conspiracy recruited and enticed, often times via social media. Shortly after the checks were deposited, Smith or another member of the conspiracy withdrew the proceeds from the bank accounts. As part of the conspiracy, the person’s whose bank account was used was also paid  for the use of their bank account.

Smith is scheduled to be sentenced on August 19, 2025. The defendant’s sentence will be determined by a federal district judge after consideration of the U.S. Sentencing Guidelines and other statutory factors.

The case is being prosecuted by Assistant United States Attorneys Christine Lowell and Taylor Dean.

The matter was investigated by the Federal Bureau of Investigation.

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