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Richard E. Fudesco admitted quite a few things to a federal judge in Philadelphia. Fudesco said he had a heroin habit, he scammed 448 banks in six states and he made about $360 per day. Then the judge admitted Fudesco – to federal prison for almost nine years.
Between 1992 and 1995, the fraudster hit banks in Maryland, Pennsylvania, Virginia, West Virginia, New York and New Jersey. The scam began with a stolen checkbook. With that in hand, Fudesco would enter the bank and learn the name of an officer. He’d then leave the bank and wait until the officer left the premises. Once the officer was gone, Fudesco would re-enter the bank with an envelope addressed to the officer and would ask another employee to put the envelope on the desk of the officer. While the second employee did as Fudesco asked, the scam artist would look through records on the second employee’s desk and make note of customer information. Then he’d write a check from the stolen checkbook to the customer he’d just learned about. The ruse didn’t just work; it worked to the tune of over $200,000 at 448 victim banks.
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