PARAGOULD, Ark. (KAIT) -Police arrested three Memphis men suspected of attempting to cash a fraudulent check at a Paragould bank, ending a check fraud scheme that spanned multiple Arkansas counties.
Hugo Ayrot-Quintero, Jose Teran Moncayo and Wilber Montriel-Anez are being held in the Greene County Detention Center on the following charges:
- Engaging in a continuing criminal gang, organization or enterprise, a Class B felony
- Forgery, a Class C felony
- Conduct constituting attempt, a Class A misdemeanor
On March 25, police responded to a local bank regarding a forgery attempt in progress.
When officers arrived, they found Moncayo inside the bank attempting to cash a fraudulent check while the…
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Insurance fraud involves making false or exaggerated claims to an insurance provider.
- Hard Fraud: Someone deliberately causes a loss (e.g., setting fire to a warehouse or staging a car accident) specifically to collect a payout.
- Soft Fraud: More common and often viewed as “victimless” by the perpetrator. It involves exaggerating a legitimate claim, such as overstating the value of stolen items in a home burglary to cover the deductible.