Men Indicted for Bank Fraud
Two men have been indicted on charges they conspired to defraud 11 banks including National City, PNC and Northwest Savings.
54-year-old Richard Raspatello of Kersey and 22-year-old Joshua Atwell of Warren each face a federal felony count of conspiracy to commit bank fraud for alleged incidents that happened from November of 2007 to October of 2008.
Authorities say Raspatello established a checking account at National City Bank under the name of Raspatello Excavating and Trucking. He then wrote checks to Atwell, knowing there were insufficient funds.
Atwell would then open an account at another bank and deposit some of the bad checks from Raspatello. Before those checks could be evaluated, Atwell would bring in other bad checks and cash them.
Authorities said Atwell would keep a portion of the cash and return the rest to Raspatello.
They each face a sentence of up to 30 years in prison, a fine of $1 million or both.
For more information, go HERE.
54-year-old Richard Raspatello of Kersey and 22-year-old Joshua Atwell of Warren each face a federal felony count of conspiracy to commit bank fraud for alleged incidents that happened from November of 2007 to October of 2008.
Authorities say Raspatello established a checking account at National City Bank under the name of Raspatello Excavating and Trucking. He then wrote checks to Atwell, knowing there were insufficient funds.
Atwell would then open an account at another bank and deposit some of the bad checks from Raspatello. Before those checks could be evaluated, Atwell would bring in other bad checks and cash them.
Authorities said Atwell would keep a portion of the cash and return the rest to Raspatello.
They each face a sentence of up to 30 years in prison, a fine of $1 million or both.
For more information, go HERE.
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