Deutsche Bank Subcontractor Indicted In Fraud Scheme
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Four check cashing companies, along with their owners, were indicted Tuesday in connection with money fraud.
Manhattan District Attorney Robert Morgenthau says the companies were falsifying business records. Among the illegal transactions, the DA says the companies were continuously cashing checks for more than 10,000 -- an amount that should be reported to the IRS.
Also named in the indictment was a check bundler who helped cash the checks.
Morgenthau says the scheme was uncovered while investigators were looking into the financial records of the John Galt Corporation, a subcontractor hired to take down the Deutsche Bank building.
Galt and several of its employees were indicted last year for their role in the fire there that killed two firefighters.