Bridgeport man indicted on bank fraud charges

A Bridgeport resident was charged in an 18-count indictment with offenses related to the depositing of stolen and counterfeit checks at the Newtown Savings Bank.

A federal grand jury in New Haven indicted Ronald Boyd, who was accused with running a scheme between November 2021 and April 2022. In this scheme, Boyd and accomplices dubbed “runners” opened bank accounts at Newtown Savings Bank, and then conducted transactions so that the accounts appeared legitimate ”“ an act known in miscreant circles “seasoning” the account.

Boyd would then deposit stolen and counterfeit checks into the runners”™ accounts and would later withdraw the money from the various accounts.

The indictment charged Boyd with one count of conspiracy to commit bank fraud, which carries a maximum term of imprisonment of 30 years; 10 counts of bank fraud, which carries a maximum term of imprisonment of 30 years on each count; and seven counts of possession of stolen mail, which carries a maximum term of imprisonment of five years on each count.

Boyd has been detained since May 8 after being arrested on unrelated state charges. He has pleaded not guilty to the federal charges. A trial date has yet to be scheduled.