Banks in New Jersey and Pennsylvania were used to deposit stolen checks, or to try to, and two more men have pleaded guilty.

Raymond Wade, 43, of Morrisville, Pennsylvania, and Dwayne Reddon, 40, of Trenton, pleaded guilty in federal court to conspiracy to commit bank fraud, reports News12 New Jersey.

The operation ran from March 2023 through June 2025.

Participants held themselves out as the people or businesses the checks named, often after obtaining business documents in those names or opening accounts that were not the real payees’, then split the proceeds.

The crew deposited or attempted to deposit more than 100 Treasury and commercial checks worth over $11 million, the U.S. Attorney’s Office for New Jersey said on August 11th when it announced the first eight guilty pleas.

Many of the Treasury checks, not the full set, were Employee Retention Credit refunds, a pandemic-era IRS credit meant to help businesses keep workers.

Eight other defendants had already pleaded guilty.

Wayne Bessant, 45, of Hamilton, and Ryan Small, 33, of Ewing, are still charged, and those counts remain pending.

Wade is scheduled to be sentenced on December 17th, and Reddon on February 9th, 2027.

The conspiracy charge carries up to 30 years in prison and a fine of up to $1 million, which can be higher depending on the financial gain or loss.

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The post $11,000,000 in Stolen Checks Fuels Bank Fraud Pleas Across New Jersey and Pennsylvania appeared first on The Daily Hodl.

Federal prosecutors have secured a guilty plea from a Boston man accused of using fake identification to drain hundreds of thousands of dollars from customer accounts.

William Shaw, 68, admitted to four counts of bank fraud and four counts of aggravated identity theft in federal court, says the U.S. Attorney’s Office for the District of Massachusetts.

The defendant posed as at least 13 account holders from late 2022 into early 2025 by presenting forged driver’s licenses that carried the victims’ details alongside his own photograph.

He also submitted withdrawal forms listing the customers’ names and account numbers to obtain cashier’s checks and cash totaling more than $900,000.

Judge Julia E. Kobick set sentencing for January 6th, 2027, after Shaw was charged in January 2026.

Separately, authorities charged six additional men in July 2025 as part of a larger multi-state bank fraud investigation covering Massachusetts, Connecticut and Rhode Island.

Three of those defendants have already entered guilty pleas and await sentencing, while another received a sentence in a connected case.

A bank fraud conviction carries up to 30 years in prison along with fines reaching $1 million or twice the amount gained or lost.

Each aggravated identity theft count requires at least two years in prison served consecutively to any other term.

Assistant U.S. Attorney Kristen Kearney is handling the prosecution.

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The post Massachusetts Man Pleads Guilty to $900,000 Bank Fraud Using Fake IDs appeared first on The Daily Hodl.