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Lowe : Brooklyn man pleads guilty in $2.6 million fraud scheme against Lowe's

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01/10/2018 | 06:03 pm

Jan. 10--Prosecutors say Kenneth Cassidy went from one Lowe's store to another as part of nationwide scheme that netted him $2.6 million in goods.

He opened about 173 fraudulent Accounts Receivable accounts at Lowe's stores across the country during a four-year period ending in December 2016, according to Assistant U.S. Attorney Aaron J. Mango.

One of those outlets was the Lowe's on Niagara Falls Boulevard in Amherst.

Cassidy funded the accounts with counterfeit checks and then made purchases until the accounts were closed or depleted, according to prosecutors.

Cassidy, 51, of Brooklyn, pleaded guilty in Buffalo federal court to fraud and income tax charges.

"He is very remorseful and he understands there is no excuse for what he did," defense lawyer Barry N. Covert said.

Covert said his client is prepared to do whatever it takes to remedy the situation.

At the Amherst store, Cassidy opened an account under the company name "New Repair," and made $7,003 in purchases at several Lowe's stores in the area, prosecutors said in court papers.

First charged in June 2016, Cassidy also was accused of earning income from his criminal activity and failing to file federal income tax returns.

U.S. District Judge William M. Skretny will sentence Cassidy April 18.

Cassidy's guilty plea is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, New York State Police, U.S. Marshals Service, and Immigration and Customs Enforcement, Homeland Security Investigations.


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