BOSTON — A Quincy man was sentenced in federal court in Boston for bank fraud and money laundering connected to a scheme involving stolen U.S. Treasury checks.
According to the U.S. Attorney’s Office for the District of Massachusetts, Eric Banks, 71, was sentenced on March 4, 2026, by Chief U.S. District Court Judge Denise Casper to 14 months in prison, followed by three years of supervised release.
Banks pleaded guilty in November 2025 to one count of bank fraud and five counts of money laundering.
According to federal prosecutors, Banks obtained a stolen U.S. Treasury check for $1,127,331.80 that was made out to a New York-based company. Banks then created a Massachusetts-based entity with the same name as the legitimate company, opened a bank account under that name, and deposited the stolen check. Prosecutors said Banks then conducted multiple financial transactions designed to conceal the origin of the funds.
The U.S. Attorney’s Office for the District of Massachusetts reported that Banks also created a second fake entity and opened another bank account under that name. More than $1.3 million from other stolen U.S. Treasury checks obtained by other individuals was transferred into that account.
Federal prosecutors said the case is part of a broader scheme involving seven additional defendants charged in separate cases with stealing or laundering government funds.
Those defendants include:
- Gino Rosario Tyler Alexander Allegra, 31, of Brockton, charged with theft of $861,646 in government funds
- Jesse El-Ghoul, 31, of Leominster, charged with theft of $1,355,863 in government funds
- Nnamdi Opara, 30, of Woburn, charged with theft of $700,767 in government funds
- Gurprit Singh, 34, of Framingham, charged with theft of $2,547,508 in government funds
- Amarpreet Singh, 33, of Framingham, charged with theft of $536,214 in government funds
- Lonnie Smith-Matthews, 33, of Hyde Park, charged with theft of $150,000 in government funds and bank fraud involving $232,588
- Domingo Villari, 49, of Framingham, charged with theft of $1,288,575 in government funds
The announcement was made by U.S. Attorney Leah B. Foley, IRS Criminal Investigation Boston Field Office Special Agent in Charge Thomas Demeo, Treasury Inspector General Special Agent in Charge Michael Carpenter, and U.S. Postal Inspection Service Boston Division Acting Inspector in Charge Nicholas Bucciarelli.
The U.S. Attorney’s Office for the District of Massachusetts said the Needham Police Department also provided assistance in the investigation.
Assistant U.S. Attorneys Brian Sullivan and Seth Kosto of the U.S. Attorney’s Office Criminal Division are prosecuting the cases.
