$88,000 is stolen from Atlantic City casinos through a check cashing scheme


Posted on the 29th of May 2015

$88,000 is stolen from Atlantic City casinos through a check cashing scheme

A grand jury has indicted 21 persons who are allegedly involved in a check cashing scheme that scammed more than $88,000 from a number of Atlantic City casinos. The suspects took advantage of a policy by TD Bank that made check funds available on the same date a check is deposited. Taking advantage of the bank’s policy, the suspects would open new bank accounts and deposit small amounts of money into them that ranged from $2 to $30. Then they would write checks between $4,900 and $4,995. The suspects would then allegedly withdraw most of the money through a Global Cash Access cash advance transaction in either Bally’s Casino or Borgata Hotel Casino and Spa. The charges are a result of an investigation by the New Jersey State Police Casino Investigation Financial Crimes Unit and the Division of Criminal Justice Specialized Crimes Bureau.

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