Elmira Man Pleads Guilty to Bank Fraud

United States Attorney William J. Hochul, Jr. announced today that MICHAEL J. PECKA, 25, of Elmira, NY, pleaded guilty before U.S. District Judge Charles J. Siragusa to a felony indictment charging him with bank fraud. Bank fraud carries a maximum penalty of 30 years in prison and a maximum fine of $1,000,000. Assistant U.S. Attorney Craig R. Gestring, who handled the case, stated that the defendant organized and participated in a scheme to defraud Bank of America, by making unauthorized withdrawals from a New York State Unemployment Assistance Fund account. The defendant would use account number and routing code information from this account to open and fund online trading accounts with E*Trade and other companies. He would receive a debit card for each account, and then withdraw all the money. The defendant obtained approximately $350,000 in this manner, which he used to fund limousine rides to New York City, personal purchases, and a trip to Italy. Posted in: Debit Card Fraud