He could receive up to 30-years incarceration.
Greenbelt, Md (KM) A Germantown man pleaded guilty Wednesday to conspiracy to commit bank fraud. Chesterfield Stewart V, 22, entered the plea in US District Court in Greenbelt.
The US Attorney’s Office for Maryland says Stewart conspired with others to recruit individuals to use their bank accounts to receive fraudulent checks, and share the account holders’ personal and banking information among themselves. . Federal officials say fraudulent checks would be deposited in these accounts. Shortly after that, the conspirators would travel to other bank branches to withdraw the funds before the financial institution could determine if the checks were counterfeit.
The loss to the financial institutions from this fraud was more than $250,000, but not more than $500,000. the US Attorney’s Office says.
Stewart’s sentencing is scheduled for June 8th, 2022. The US Attorney’s’ Office says he could get up to 30 years in prison, followed by five years of supervised release. As part of his plea agreement, Stewart agreed to pay $28,726.36 in restitution.
By Kevin McManus