2nd Man Admits Role In $143K Fraud Scheme Thwarted By Portsmouth PD

PORTSMOUTH, RI — A second New York man admitted he was part of a conspiracy that tried to defraud banks in Rhode Island and nine other states out of about $143,000.

Jaymark Larios, 23, of Bronx, New York, pleaded guilty to conspiracy to commit bank fraud. He is scheduled to be sentenced on June 10.

Federal prosecutors said Larios and Paul Keenan, 54, of Bronx, New York, worked with his conspiracy partners to recruit people to get their photos and personal identifying information. Larios and his co-conspirators used the information to create fraudulent IDs that contained their own photographs and the personal information of some of the recruits, prosecutors said.

According to prosecutors, Larios and others got information from at least 28 victims, including their names, dates of birth, addresses, Social Security numbers, and bank account information. They also obtained information of at least 20 businesses, including business names and banking information.

Larios and others used the collected information to create fraudulent IDs and checks, prosecutors said. They then traveled with recruits to banks in Rhode Island, Massachusetts, and at least eight other states to cash the checks, according to prosecutors.

Through the scheme, Larios and others attempted to defraud banks out of $143,000, successfully defrauding 22 banks out of $93,200, according to prosecutors.

The matter was investigated by Homeland Security Investigations and the East Providence Police Department, with the assistance of the Portsmouth Police Department.

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