Former state senator faces 31 bank fraud charges
A $550,000 check-kiting scheme victimizes a Rhode Island credit union and two banks.
A former Rhode Island state senator and business owner will be arraigned in U.S. District Court in Providence next week on 31 counts of bank fraud that victimized a credit union and two banks, according to federal court documents.
James E. Doyle II, 46, of Pawtucket, who resigned from his state senate seat earlier this year, is accused of running a $550,000 check kiting scheme that victimized three financial institutions, the $33.3 million Alliance Blackstone Federal Credit Union in Pawtucket, Bristol County Savings Bank in Taunton, Mass., and Santander Bank in Boston.
Doyle is also charged with one count of filing a false tax return and one count of failing to file a tax return.
The former state senator held at least 20 accounts with AFCU, BCSB and Santander. He owns Doyle Respiratory LLC and Doyle Sleep Solution LLC.
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