Buffalo Woman Sentenced For Bank Fraud
CONTACT: Barbara Burns
PHONE: (716) 843-5817
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BUFFALO, N.Y. - U.S. Attorney William J. Hochul, Jr. announced today that Nichole Dean, 27, of Buffalo, NY, who was convicted of bank fraud, was sentenced to time served and two years supervised release by Chief U.S. District Judge William M. Skretny. The defendant was also ordered to pay $7,612.73 in restitution.
Assistant U.S. Attorney Russell T. Ippolito, Jr., who handled the case, stated that the defendant was part of a conspiracy to defraud local area banks by participating in a scheme sometimes referred to as “Check Kiting.” Dean would open bank accounts and deposit large checks to the accounts. The deposited checks were written on accounts that had insufficient funds or on accounts that had been closed. Before the banks could determine that the checks were not supported by any funds, the defendant withdrew smaller amounts from the accounts. Although Dean made away with $7,612.73, the amount of the intended loss was more than $36,000.
Co-conspirators Carlique Deberry, Sade Heath and Sayonara Heath have all been convicted of similar charges.
The sentencing is the culmination of an investigation by the United States Secret Service, under the direction of Acting Special Agent in Charge Michael Adelizzio.