References in periodicals archive ?
If the auditors had inquired, they would have learned that Minkow submitted phony tax returns and that banks closed his accounts for check kiting, writing excessive non-sufficient-fund checks, using fictitious checks, and conducting loan fraud.
54) Thus, [sections] 1344(1) reaches crimes such as check kiting,(55) and alternatively, [sections] 1346 covers fraud involving intangible rights, such as the right to honest services.
They knew what I was doing, that I was trying to keep these loans going and that I needed some help," Butler said, maintaining he really didn't understand what check kiting was until someone explained it to him later.
1992) (finding unlike subsection (2), subsection (1) does not require a material misrepresentation and therefore, under [sections] 1344(1), a check kiting scheme can support a conviction of bank fraud); see also United States v.
Difficult to detect and prosecute, check kiting schemes have gained popularity in recent years.
The Department of Justice will aggressively investigate and prosecute Ponzi schemes, bank fraud, check kiting, and other similar types of financial 'shell games' specifically designed to lull banks, investors, and employees into having a false sense of security.
Rothschild also admitted engaging in a number of other fraudulent schemes, including check kiting and credit card fraud in the District of Columbia, Virginia, New York, Florida, and elsewhere.
52) Section 1344(1) reaches check kiting, which is considered a scheme to defraud a bank of money.
2 million after tax) representing the loss from a check kiting scheme by one of the Bank's commercial customers and a charge of approximately $2.
has asked the Alabama Credit Union Administration and the NCUA to approve another loan for Danny Butler, despite the fact he is serving a sentence for fraud and check kiting at the federal correctional facility in Talladega, Ala.
2 million after tax) representing the loss from a previously announced check kiting scheme by one of the Bank's commercial customers.
Schick was sentenced in August 2004 to 97 months in federal prison for an unrelated scheme to defraud several banks through check kiting.