PROVIDENCE — A Florida man arrested outside a Seekonk bank last spring was sentenced Tuesday to three years in federal prison for stealing $174,660 from ATMs through a "cashout scheme."
Dean Emanuel Colin, 27, of Miami, was also sentenced in U.S. District Court to three years of probation after his release from prison, and ordered him to pay restitution that will be determined at a later date, according to the U.S. Attorney's office in Rhode Island.
Colin pleaded guilty in September to participating in a fraud and identity theft ring that federal authorities said is responsible for stealing nearly $1 million from Santander ATM machines in Rhode Island, Massachusetts, Connecticut, New York and New Jersey.
He was arrested last May 23 outside a Santander Bank branch on Central Avenue in Seekonk after bank officials monitoring real-time video of the ATM notified the U.S. Secret Service. The agency then notified Seekonk police who apprehended Colin.
Federal authorities say he participated in a “cashout scheme” in which individuals use stolen or compromised bank or credit card company account numbers on encoded ATM cards, credit cards or gift cards to withdraw large sums of currency from ATMs.
The rightful card holders had a large limit or no limit on ATM cash withdrawals, according to the U.S. Attorney’s office.
Colin admitted to traveling from Miami on May 22, 2019 and staying at the Comfort Inn off Route 140 in Foxboro. Officials say he spent the next two days traveling around Southeastern Massachusetts and Rhode Island withdrawing funds from ATMs with bogus bank cards.
Over the two days, authorities say, Colin conducted 173 ATM transactions totaling $289,530. Over 100 of the transactions were successful, totaling $174,660, according to the U.S. Attorney's office.
When he was arrested, Colin had nine ATM cards and police found additional cards in his car. During a search of his motel room, agents recovered $65,920 in cash, additional bank cards and a card reader and writer enabling him to encode cards, according to court records.
He also mailed $48,500 to an address in Miami for dispersal among his co-conspirators, who were not named in court records.
Colin pleaded guilty to bank fraud conspiracy and aggravated identity theft.