- Associated Press - Tuesday, June 24, 2014

TRENTON, N.J. (AP) - Federal authorities have arrested a southern New Jersey man for allegedly orchestrating a large scale check-kiting scheme.

New Jersey’s U.S. attorney says Luis Rogers Sr. allegedly caused $8.8 million in losses to three banks in New Jersey.

Rogers was charged Tuesday with one count of bank fraud. It’s not immediately known if he has an attorney.

Prosecutors say the 71-year-old Beverly resident controlled several checking accounts under different businesses he ran, including a Mount Holly-based office equipment leasing company called Lease Group Resources Inc.

Authorities say from November 2012 through April 2013, Rogers allegedly created artificial bank balances by depositing hundreds of millions of dollars into the accounts, amounts that far exceeded his annual revenues. He then allegedly wrote checks against the accounts, knowing the money was not available.


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