A man accused of depositing more than $103,000 in stolen checks into a fraudulent bank account was arrested after returning to a Phoenix-area credit union to withdraw funds, according to police.
Officers responded to the credit union near 7th Street and Missouri Avenue around 12:30 p.m. on April 3 following reports of a suspected fraud scheme already under review by investigators.
Detectives with the department’s Financial Crimes Unit discovered the case was connected to an ongoing mail theft investigation being handled by the Napa Valley Police Department. Authorities there had been investigating stolen checks intended for the Napa Valley Tax Collector that were allegedly being deposited into fraudulent accounts.
Investigators said the suspect, identified as Rico Jackson, had recently opened an account under a similar name and deposited five stolen checks totaling roughly $103,000. Credit union employees contacted police when Jackson returned to the branch on April 3.
Jackson was arrested and booked on one count of fraudulent schemes and one count of theft exceeding $25,000, both Class 2 felonies.
Police said the investigation remains ongoing.
