NEW YORK, May 27 (UPI) -- Authorities in New York City say they have broken up a counterfeit check ring that cashed millions of dollars in bogus checks.
The New York Post reported Wednesday that the ring was brought down after the group forged checks on a New York Police Department account.
The two ringleaders allegedly used 950 "soldiers" to deposit and cash the counterfeit checks, Manhattan District Attorney Robert Morgenthau said.
Suspects Jasper Grayson and James Malloy, both 26, allegedly used such banks as JP Morgan Chase, HSBC and TD Bank to set up accounts, officials said.
"By fraudulently cashing and depositing the counterfeit checks the defendants stole over $1.4 million," from Chase, Morgenthau said.
Three former tellers -- one each from Chase, HSBC and TD banks -- were also arrested. They allegedly were selling customer profiles that included names, Social Security numbers, account numbers and balances.
The tellers would also provide the scammers with legitimate canceled checks, which they would use to make forgeries, officials said.
The ring operated between Oct. 1, 2007, and Feb. 10, 2009, the newspaper reported.
