Providence Man Admits To Defrauding Banks Out Of Thousands Of Dollars

PROVIDENCE, RI — A Providence man admitted to a federal judge that he participated in a conspiracy that defrauded banks out of tens of thousands of dollars.

Jarrod Smith, 43, pleaded guilty Tuesday to conspiracy to commit bank fraud.

Federal prosecutors said Smith admitted he participated in a fraud scheme that used information from stolen checks, primarily business checks, to create bogus checks that were then deposited into bank accounts of people that he or other members of the conspiracy recruited and enticed, oftentimes via social media. Shortly after the checks were deposited, Smith or another member of the conspiracy withdrew the money from the bank accounts. As part of the conspiracy, the people whose bank accounts were used were also paid for the use of their bank account.

Smith is scheduled to be sentenced on Aug. 19, 2025.

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