Dublin man used form of cheque fraud to keep failing business afloat, court hears

A businessman who used a form of cheque fraud known as “kiting” in an effort to keep his failing business afloat has received a suspended sentence.

Christopher Lovett (52) lodged cheques drawn on a closed account which were immediately credited to him and withdrew the funds before the bank’s clearance process had completed. The cheques, totalling almost €19,000, were ultimately returned unpaid and left the bank at a loss.