Man pleads guilty to check kiting scheme
March 10, 2009
Total Loss:
$1.7 Million
Gary Varney, age 55, of Amelia, switched the money between four accounts for the companies he owned, held by Varney Dispatch and PPV, to artificially inflate the balances, prosecutors said. Fifth Third Bancorp lost $1.7 million in the scheme, but Varney paid back about $1 million in a civil settlement.
Posted in:
Check Fraud