Cleveland Heights Man Charged with Bank Fraud

April 3, 2010 - Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, today announced that a federal grand jury in Cleveland, Ohio, returned an indictment against Troy Spencer, age 48, of Cleveland Heights, for bank fraud in connection with an Allstate Insurance check in the amount of $103,776.45. As a result of Spencer’s fraudulent conduct, National City Bank sustained a loss of approximately $88,765.30.

The indictment is a result of an investigation conducted by the Cleveland office of the Federal Bureau of Investigation. This case is being prosecuted by Assistant United States Attorney Henry F. DeBaggis.

If convicted, the defendant’s sentence will be determined by the court after review of factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government’s burden to prove guilt beyond a reasonable doubt.