Fairfield man pleads guilty in ATM scam
January 27, 2011
Total Loss:
$4.8 million
A Fairfield man pleaded guilty to conspiracy to commit bank fraud stemming from his involvement in a $4.8 million scheme. Federal prosecutors say Gary Vestuti, 43, worked for the Branford-based ATM operator New England Cash Dispensing Systems Inc., whose clients included Cranston, R.I.-based Domestic Bank. He admitted to a conspiracy to defraud Domestic Bank of cash it supplied for use in the ATM network by ordering excess cash from the bank and then diverting it to refill ATMs that would otherwise have been refilled with NECDS’s funds.
Source:
Westfair Online
Posted in:
Debit Card Fraud