A man in Massachusetts is heading to prison for bank fraud involving the theft of over $700,000 in U.S. Treasury checks.
Nnamdi Opara, 31, of Woburn, pleaded guilty to two counts of bank fraud and five counts of money laundering, says the U.S. Department of Justice.
Opara “wrongfully obtained” two Treasury checks issued to a New York entity, established a company with a matching name in Massachusetts and deposited the checks into accounts he controlled, despite the entity never filing federal tax returns.
In the process, Opara stole a total of $700,767 from the U.S. Treasury.
He has been sentenced to ten months in prison by U.S. District Court Chief Judge Denise J. Casper, followed by two years of supervised release.
In addition, Opara conducted multiple illegal monetary transactions designed to conceal the source of the funds from the stolen Treasury checks.
The case stems from an investigation into Treasury check fraud.
United States Attorney Leah B. Foley and other agencies made the announcement.
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