Rhode Island Man Sentenced to 28 Months for Bank Fraud Conspiracy
Michael Brian Cotter, 64, of Greenville, Rhode Island, was sentenced to 28 months’ imprisonment for participating in a multi-year bank fraud conspiracy. Cotter, as CEO of a tech support company operating a call center in India, orchestrated a scheme to artificially inflate his company’s sales figures to mislead banks about the firm’s chargeback ratios, a key fraud detection metric. Beginning in 2016, banks restricted the company’s ability to process debit and credit card payments due to excessive chargebacks and fraud concerns. Cotter and accomplices purchased virtual debit cards to conduct thousands of sham transactions on their own merchant accounts, artificially... [Continue Reading]
Breaking-360LiveNews | 10 Apr 2026 13:00 LONDON
