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National Insurance Crime Bureau

Fraudulent Cashier's Check

Fraudulent Cashier's Check
Midwest Region agents were aware of numerous member company insured’s vehicles being stolen by using fraudulent cashier’s checks. Agents monitored social media sites like Facebook Market Place and Craig’s List.  On 10/18/2020 one agent located a 2015 Cadillac Escalade for sale on Facebook Market Place for $26,000.00. Portraying himself as an interested purchaser, he contacted the seller and was able to obtain the PVIN, along with a photo of the title.  The agent conducted an  inquiry, and did not observe any NCIC active theft entries, though observed the same vehicle listed for sale two days prior on Craigslist for $39,000.  Agent contacted the original owner, who stated the vehicle was sold the day prior (10/17/2020) for $37,000 and paid for with a Commerce Bank cashier’s check.  The original transaction was conducted on a Saturday after all financial institutions were closed.  Agent contacted the selling party and made arrangements for a purchase of the vehicle, along with Missouri State Highway Patrol (MSHP) and  Auto Crimes Section detectives who conducted the buy/bust operation. The operation was a success; two suspects were taken into custody.  On Monday 10/19/2020, the agent, along with MSHP responded to Commerce Bank and confirmed the cashier’s check was fraudulent.  The vehicle was returned to the victim within 48 hours of the theft and recovered by law enforcement 24 hours before the victim even knew they were the victims of a fraud/stolen vehicle.  The suspects were identified to multiple vehicle thefts of this nature, spanning multiple states in the Midwest Region.  Federal Prosecution is being sought.