Warwick man gets five years for defrauding banks

PROVIDENCE _ A 33-year-old Warwick man has been sentenced to five years in federal prison for masterminding a conspiracy to defraud two Rhode Island banks of nearly $600,000.

A federal court jury convicted David Alcantara on May 1 of leading the conspiracy to defraud the unnamed local banks and for leading a conspiracy to convert counterfeit $100 bills into real American dollars by making small retail purchases with bogus $100 bills and receiving cash back in Rhode Island, Massachusetts and Connecticut, according to a news release last week from U.S. Attorney Peter F. Neronha.

The jury convicted Alcantara of conspiracy to commit bank fraud, eight counts of aggravated identity theft and conspiracy to pass counterfeit money.

Prosecutors claimed that in December 2009 and January 2010, Alcantara’s schemes resulted in the transfer of over $600,000 from bank accounts of legitimate bank customers into accounts fraudulently created with the use of stolen identities. Money was then withdrawn from the fraudulent accounts in the form of cashier’s checks. •

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