A Cambridge man was indicted Thursday in connection with a bank fraud scheme and theft of thousands of dollars from several Wells Fargo Bank customer accounts.
Angelo Alberto Riddell, 55, of Chauncy Street, was indicted by a Middlesex County Grand Jury on six counts of larceny, money laundering, receiving stolen property and “being a common and notorious thief” and is scheduled to be arraigned Wednesday.
“Quick action, and a coordinated response by Cambridge Police, bank employees and customers shut down this fraud, preventing even more financial damage,” Middlesex District Attorney Marian Ryan said. “These kinds of schemes are fast-moving and sometimes it can take several months before victims see that their accounts have been affected.”
Riddell stole nearly $44,000 from the accounts of seven Wells Fargo Bank customers from January to March, authorities say, working with others to get customer debit cards sent to his address and using them to shop, make ATM cash withdrawals and make money transfers from Cambridge area stores. An investigation into the scheme is ongoing.
A social media account held by Riddell discusses serious health problems affecting his heart and spine, including difficulty walking. On July 4, a post says that “Due to detrimental health and the need to resolve bad karma I will be gone,” giving goodbyes and “Thanks to all I have known.”
Riddell was arrested by Cambridge Police on March 5 and has been held since his arraignment in Cambridge District Court on $20,000 cash bail.
This post took significant amounts of material from a press release.
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