Car dealer charged in check-kiting scheme
June 1, 2009
Total Loss:
$2 Million
A former Harlingen auto dealer is scheduled to make an appearance in court next week where he will be formally arraigned on bank fraud charges. The indictment said that Woodward's scheme consisted of making a series of deposits and withdrawals of checks, backed by insufficient funds, between and among the three banks and that at least one of the banks suffered a significant financial loss of between 2 and 3 million dollars.
Source:
The Monitor
Posted in:
Check Fraud