“Fraud ring smashed by cops”

fraud

A MAJOR FRAUD RING in which crooks got away with almost a million dollars from local banks was smashed last week.

A senior police officer confirmed to the SUNDAY SUN that an organised group of thieves was cashing near perfect copies of a local conglomerate’s cheques for as much as $100 000 at a time. The thieves deposited the professionally done fake cheques through the ATM and after they cleared, split the money.

But the banks, which were becoming suspicious over the last few months, increased the three-day waiting period to ten days and set a trap for the elusive thieves. Since the fraud “came to light” last month, some of the racketeers were charged while others skipped the island, reportedly to other Caribbean countries, sources said.

Please read the full story in today's Sunday Sun, or in the eNATION edition.