OIG - Office of Inspector General
10/26/2026 | Press release | Distributed by Public on 10/27/2026 06:00
New York Woman Charged With $1.1M Check Cashing Scheme
New York Woman Charged With $1.1M Check Cashing Scheme
Xue Fang Cheng, 55, of New York, was arrested today after a federal grand jury in the Eastern District of New York returned an indictment on Oct. 23 charging Cheng with providing illegal check cashing services. According to court documents, Cheng was an owner of a New York convenience store that provided unlicensed check cashing services to at least three individuals, including a social adult day care center owner and an undercover law enforcement agent. Cheng directed that checks be deposited in business bank accounts held by various companies and controlled by others, and she provided cash to her customers for a 2-3% fee. Cheng documented the cashed checks via text and audio messages and instructed the undercover agent that they should "plan to do [it] long term," cautioning that "[i]t is very dangerous." From March 2025 through July 2026, Cheng allegedly participated in providing over $1.1 million in cash to her customers. In connection with the investigation, law enforcement seized approximately $875,000.
Action Details
- Date:Oct. 26, 2026, 2:56 p.m.
- Agency:U.S. Department of Justice
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Enforcement Types:
- Criminal and Civil Actions
OIG - Office of Inspector General published this content on October 26, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 27, 2026 at 12:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]