A Newport Beach man was sentenced Friday for stealing $90,000 from banks through a check-cashing scheme, according to the Orange County district attorney's office.
Herbert Robert Schnapp, 65, received a 270-day jail sentence and was ordered to pay restitution. He pleaded guilty in May to depositing checks totaling more than $6 million although he had no funds to cover them, according to a D.A. news release.
He used two accounts — one at a Wells Fargo Bank branch in Newport Beach and another at a LBS Financial Credit Union in Long Beach. Schnapp fooled each bank into believing his other account had funds, and then would draw down an account, the D.A. release said.
He ultimately spent $90,000.
— Mike Richer