A 52-year-old Modesto man on Monday pleaded guilty in federal court to three counts of conspiracy and wire fraud in a fraudulent check-cashing scheme, the U.S. attorney’s office in Sacramento reported.
Federal prosecutors said defendant Steven Hamman conspired with others to cash stolen or fraudulently obtained checks at electronic check-cashing kiosks, also known as “Vcom” or “virtual commerce” machines. The check-cashing scheme occurred from January 2009 through January 2011.
Hamman used fraudulently created Vcom accounts to try to cash the checks, sometimes using checks that other co-conspirators previously had attempted and failed to cash. On several occasions, Hamman attempted to cash the same check more than once, the prosecutors said.
During the course of the conspiracy, Hamman’s check-cashing scheme caused or threatened to cause a loss of more than $47,000 to more than 50 victims, including financial institutions and others.
Hamman is scheduled to be sentenced April 28. The defendant faces a maximum sentence of 30 years in federal prison and a $1 million fine.