- Associated Press - Friday, February 13, 2015

PROVIDENCE, R.I. (AP) - A Providence man has been convicted of participating in a counterfeit check scheme that defrauded Rhode Island banks of at least $800,000.

Federal prosecutors say 34-year-old Ernest Kar was found guilty Thursday of one count of conspiracy to commit bank fraud and three counts of bank fraud.

He faces up to 30 years in federal prison at sentencing on May 1.

Kar is among nine people charged for their alleged participation in the scam.

Prosecutors say between October 2010 and January 2014, the suspects created counterfeit checks on a computer, recruited account holders who agreed to have the fake checks deposited into their accounts in exchange for cash, and then made cash withdrawals from the accounts. Many of the counterfeit checks were drawn on the accounts of legitimate businesses.


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