Man Charged with $7 Million Check Fraud

The former head of a Bordentown, NJ car dealership was arrested yesterday on a federal indictment for allegedly defrauding area banks out of more than $7 million as part of a check kiting scheme, according to the U.S. Attorney's Office. The indictment charges Dennis Kelliher, who also owns a house in Monroe Township, with writing bad checks on both Cartec and personal accounts he controlled at KeyBank, Commerce Bank (now TD Bank), 1st Constitution Bank and Roma Bank. According to a release from the U.S. Attorney's Office, Kelliher routinely engaged in a fraud known as "check kiting" by allegedly writing a check on one account and then depositing that amount into another, despite knowing the account upon which the check was drawn held insufficient funds. Posted in: Check Fraud