Schenectady man convicted for depositing fake check for $58K

ALBANY -- A 61-year-old Schenectady man pleaded guilty in federal court Tuesday to possessing and depositing a counterfeit check for over $58,000.

According to federal prosecutors, Richard Reid tried to deposit the $58,010 counterfeit check into his account at Trustco Bank in Schenectady.

The check was drawn on the account of Buttonwood, Inc., which also does business as Buttonwood Booksand Toys of Cohasset, Mass., said US Attorney Richard Hartunian. 

Reid was identified by a Trustco employee in a photo lineup presented by the Schenectady Police Department. Reid told investigators he'd received the counterfeit check in the mail through an "Internet deal," that he had signed and deposited the check, and received approximately $20,000 from it, which he said he used to purchase a car and some items for himself and his girlfriend.

In fact, investigation revealed Reid withdrew virtually all of the money, including wiring some to another account he controlled in Elmira, said prosecutors.

Reid will be sentenced June 25.