SHELBYVILLE, Ind. (WISH) - A Shelbyville man was arrested Thursday after police say he cashed thousands of dollars in fake checks.
Our partners at the Shelbyville News report 52-year-old Talmage D. Thompson was arrested after a warrant was issued as part of a check kiting scheme.
Thompson is the proprietor of the Check Masters in Shelbyville and Franklin. According to police reports, Thompson took advantage of the lag time between when the check is accepted at the bank and when it is cleared.
"Thompson did this by writing numerous checks and depositing them into his accounts at each bank that were not supported by real money or hard cash," court records say.
Police say Thompson cashed several checks that were worth more than $259,000 at a Richmond bank in December.
Thompson told several bank officials that he was bankrupt, although court records do not specify a motive for the fake checks.
Now, Thompson is facing charges of fraud on a financial institution, corrupt business influence, theft, and check deception. He has since been released on bond.
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