Brooklyn Man Charged With Scaming Lowe’s Out Of Millions Of Dollars
CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX: (716) 551-3051
BUFFALO, N.Y. – Acting U.S. Attorney James P. Kennedy, Jr. announced today that Kenneth Cassidy, 50, of Brooklyn, NY, was arrested and charged by criminal complaint with wire fraud. The charge carries a maximum penalty of 20 years in prison and a $250,000 fine.
Assistant U.S. Attorney Aaron J. Mango, who is handling the case, stated that according to the complaint, between June 12, 2012 and December 21, 2015, the defendant opened approximately 117 fraudulent Lowe's Accounts Receivable (LAR) accounts throughout the United States using counterfeit checks.
Once an account was opened, the defendant made fraudulent purchases of goods at Lowe’s until the funds were depleted or Lowe’s closed the account. Of the 117 accounts, three were opened at stores in the Western District of New York and purchases were made at stores throughout the Buffalo and Rochester areas. Although the criminal complaint indicates a total loss totaling $1,750,000, it is now believed that the loss amount is $2,800,000.
The defendant made an initial appearance this morning before U.S. Magistrate Judge Michael J. Roemer and is being held pending a detention hearing on January 18, 2017 at 11:30 a.m.
The complaint is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, under the direction of Kathy A. Enstrom, Acting Special Agent-in-Charge, New York Field Office, the New York State Police, under the direction of Major Robert C. Gregory, the U.S. Marshals Service, under the direction of Charles Salina, and Immigration and Customs Enforcement, Homeland security Investigations, under the direction of Special Agent-in-Charge James C. Spero,
The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.