A Providence man has been sentenced to three years in federal prison for his involvement in check-cashing fraud schemes before and after his initial arrest for bank fraud.

Rachon Waite, 32, admitted to recruiting individuals on social media to use their personal identifying information and bank accounts to cash fraudulently-created checks from December 2020 to June 2021, and then again from October 2021 to April 2022.

The conspiracy, which Waite was a part of, stole checks from Rhode Island and Massachusetts businesses from the U.S. Mail stream and used the information to create fraudulent checks using the names and personal information of those recruited by Waite. These fraudulent checks were then deposited in bank accounts or cashed by those recruited by Waite.

Waite’s criminal conduct is estimated to have caused a loss of over $169,000 to banks and businesses. Waite pleaded guilty to conspiracy to commit bank fraud, aggravated identity theft, and committing an offense while on release and will also face three years of federal supervised release. Restitution will be determined at a later date.

The case was investigated by the FBI and local police departments.

Full Press Release

Providence Man Sentenced to Federal Prison for Participating in Fraud Schemes Before and After His Initial Arrest for Bank Fraud

PROVIDENCE – A Providence man who admitted to participating in check cashing fraud schemes, and who continued to do so while on federal pre-trial release after his arrest on related charges, was sentenced today to three years in federal prison, announced United States Attorney Zachary A. Cunha.

Rachon Waite, 32, previously admitted to a federal judge that, from December 2020 to June 2021, and then again, after his August 2, 2021, arrest, from October 2021 through April 2022, he recruited individuals on social media to use their personal identifying information and bank accounts to cash fraudulently-created checks. Members of the conspiracy working with Waite stole checks of multiple Rhode Island and Massachusetts business from the U.S. Mail stream and then used the information from those checks to create fraudulent checks using the names and personal identifying information of individuals recruited by Waite. Waite, his co-conspirators, and, in some instances, the individuals Waite recruited deposited these fraudulent checks in their bank accounts and quickly withdrew the funds, or attempted to, before banks determined that the deposited checks were fraudulent. In other instances, individuals recruited by Waite cashed the fraudulent checks.

Waite was first arrested on a federal complaint in August 2021 for participating in the fraudulent check cashing scheme. He was released on bail and placed on pretrial supervision by the Court. Despite this, in October 2021, Waite recommenced his role in the check cashing fraud scheme. On May 24, 2022, Waite was charged for his role in the fraudulent check cashing activity that followed his release on bail on the first complaint.

According to information presented to the court, criminal conduct attributed to the defendant caused a loss to banks and businesses totaling more than $169,000.

Waite pleaded guilty on August 22, 2022, to conspiracy to commit bank fraud, aggravated identity theft, and commission of an offense while on release. He was sentenced today by U.S. District Court Judge William E. Smith to thirty-six months in federal prison to be followed by three years of federal supervised release. Restitution will be determined at a later date.

The case was prosecuted by Assistant United States Attorney Denise M. Barton.

The matter was investigated by the FBI and the Bristol and Narragansett, RI, and Wrentham, MA, police departments.

This post was originally published on this site


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