A Massachusetts man named Banks was sentenced to prison after pleading guilty to bank fraud following his involving in a $9 million scheme.
Eric Banks, 71, of Quincy, was sentenced to 14 months in prison, followed by three years of supervised release. In November 2025, Banks pleaded guilty to one count of bank fraud and five counts of money laundering.
As part of a scheme involving seven other people, Banks was given a stolen U.S. Treasury check for $1,127,331.80 made out to a New York-based company. Banks formed a Massachusetts-based entity with the same name, opened a bank account for that fake entity and deposited the check, according to United States Attorney for Massachusetts Leah B. Foley’s office…