Rhode Island man, Ryan DaCruz, currently in federal prison, admitted to depositing nearly $50,000 in stolen or fraudulent checks into multiple bank accounts in his name. DaCruz, already facing charges for being a felon in possession of ammunition, pleaded guilty to bank fraud conspiracy and is set to be sentenced on March 11. He confessed to depositing thousands of dollars in stolen checks into bank accounts he opened at four Rhode Island banks between February 2022 and May 2023. The checks were stolen from the U.S. Mail stream and altered to appear as if they were addressed to DaCruz. He would quickly withdraw the funds before the banks recognized the fraud and closed the accounts. DaCruz would then open new accounts at different banks to continue the scheme. In some cases, the banks were able to stop payment on checks, while others were not. DaCruz was previously sentenced to 24 months in prison for his conviction on separate charges in January 2024. The investigation is ongoing, and updates will be provided as more information becomes available.
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