Anchorage man pleads guilty in check scheme

Posted: Thursday, February 20, 2003

ANCHORAGE (AP) -- An Anchorage man pleaded guilty Tuesday in federal court to one count of bank fraud in connection with a counterfeit check cashing scheme.

Edward Bailey, 31, admitted he tried to steal about $100,000 from local banks with fake checks. Prosecutors said Bailey cashed the checks in December and January from banks including Wells Fargo Alaska, First National Bank Alaska and Northrim Bank.

The FBI said Bailey and two cohorts made counterfeit state checks and fake car rental agency checks that they passed at banks around Anchorage. Bailey cashed them.

Bailey did not have a plea agreement. He faces a maximum of 30 years in prison and a fine of up to $1 million.

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