Leader of Massive Check Fraud Ring Sentenced to 3-to-9 Years in Prison

Press Release

On September 25, 2012, Joel Luciano, a ringleader of a well-organized check fraud ring responsible for stealing at least $450,000 from more than 90 accounts at TD Bank, was sentenced to 3-to-9 years in state prison. On August 28, 2012, Luciano pleaded guilty to the top charge of the indictment, Grand Larceny in the Second Degree. From approximately August 2009 to May 2011, Luciano enlisted individuals to open personal savings and checking accounts at various TD Bank locations, who would then deposited bad checks drawn either from closed bank accounts or from accounts with insufficient funds, from banks other than TD Bank, into their newly-opened savings accounts at TD Bank. The criminal organization then used special cash access locations to withdraw money from those accounts. Including Luciano, the District Attorney’s Office obtained guilty pleas from 62 defendants in the multi-state, million-dollar scam.