New York Man Indicted for Bank Fraud and Identity Theft in Connection with Stolen $810,000 Tax Refund Check

Press Release

Defendant allegedly used stolen identity of Connecticut investment company executive

BOSTON - A Yonkers, N.Y. man was indicted yesterday by a federal grand jury in Boston in connection with a scheme to steal an $810,000 tax refund by impersonating a corporate executive in Connecticut.

Steven Ware, 63, was charged by criminal complaint with one count of bank fraud and two counts of aggravated identity theft. Ware was initially arrested and charged by criminal complaint on Sept. 10, 2024.

According to charging documents, in December 2023, Ware opened bank accounts in the name of a Connecticut investment company and one of its executives at a credit union in Tyngsborough, Mass. When opening the account, Ware allegedly identified himself as the executive - using the executive's full name, date of birth, Social Security number and other documents.

Shortly after opening the account, it is alleged that Ware returned to the credit union pretending to be the executive and deposited a United States Treasury check payable to the company and the executive for $810,337.

Once the check cleared, a debit card was allegedly used to withdraw money from the account to buy goods at various retailers in New York, New Hampshire and Massachusetts. It is further alleged that Ware returned to the Tyngsborough credit union several times over the following days and weeks pretending to be the executive and wired more than $634,000 of the stolen funds.

The charge of bank fraud provides for a sentence of up to 30 years in prison, five years of supervised release and a fine of up to $1 million. The charges of aggravated identity theft each provide for a mandatory two years in prison, in addition to any sentence imposed for bank fraud, one year of supervised release and a fine of up to $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

Acting United States Attorney Joshua S. Levy; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; Harry Chavis, Jr., Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office; and Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service's Boston Division made the announcement today. Valuable assistance was provided by the Tyngsborough Police Department. Assistant U.S. Attorney Kriss Basil of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

Updated October 2, 2024