Legal Opinion
United States of America, Cross-Appellant v. Patrick J. Doherty, Cross-Appellee
Court of Appeals for the Seventh Circuit
Decided July 24, 1992No. 91-3291, 91-3352PublishedCited by 56 opinions
1Opinion of the Court
FLAUM, Circuit Judge.
In late 1987 Patrick J. Doherty, virtually broke but eager to invest in a stock market depressed by the crash of October 1987, engaged in a “check kiting” scheme to generate some investment capital by artificially inflating his checking account balance. The scheme worked as follows: Do-herty maintained two checking accounts, one at the M & I Marshall & Ilsley Bank of Milwaukee, Wisconsin (M & I) and the other at the Suburban State Bank of Hartford, Wisconsin (Suburban). On November 5, he purchased some stock, paying his brokerage house with a $27,123.32 check drawn…
2Cases cited30 opinions
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3Cited by56 opinions
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