PROVIDENCE – A Providence man appeared in federal court in Providence today and admitted to his role in a conspiracy to defraud banks of up to $550,000, announced United States Attorney Zachary A. Cunha.

Richard Koboi, aka Sunnyboy Taylor, 26, admitted to the court that he and others obtained stolen checks and stolen banking information of businesses and individuals that they used to create counterfeit checks. Some of the banking information used to create fraudulent checks was provided surreptitiously by two bank employees.

Koboi admitted that he and others recruited individuals through Facebook and by other means and paid them to allow the counterfeit checks to be deposited into their bank accounts. Once the counterfeit checks were deposited, Koboi and others made or attempted to make rapid withdrawals of cash from ATMs or teller withdrawals. The deposits and attempts to withdraw cash from the affected accounts resulted in an intended loss to banking institutions of between $250,000 and $550,000.

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