JACKSONVILLE, Fla. — An Orlando man is facing more than a dozen felony charges after investigators accused him of orchestrating a counterfeit check fraud scheme that allegedly involved about 20 people and stole more than $26,000 from banks and credit unions across Northeast Florida.
Cy Williams, 41, was booked into the Duval County jail on July 24 following an investigation into what authorities described as an organized fraud operation that operated between April and September 2025, News4JAX reported.
According to an arrest report cited by the news outlet, Williams and an associate allegedly recruited about 20 people to deposit counterfeit checks into their personal bank accounts before quickly withdrawing the funds through cash withdrawals, wire transfers and purchases.
Nearly $70,000 in Checks
Investigators said the group deposited 20 counterfeit checks totaling $68,410 that were made to appear as though they had been issued by legitimate businesses. Authorities allege approximately $26,239 was successfully stolen.
Among the financial institutions affected were VyStar Credit Union, which investigators said lost about $13,549, and Community First Credit Union, which suffered losses of about $4,186, according to the arrest report.
Police said ATM surveillance footage showed Williams accompanying individuals as they deposited counterfeit checks. In one instance, investigators said Williams stood beside an account holder while she deposited a fraudulent $2,500 check at a VyStar ATM.
A Promise of $50
One woman told investigators she was approached in a VyStar parking lot by a man who claimed he had reached his daily deposit limit and asked her to deposit a business check into her account. She told investigators she agreed after being promised $50 once the check cleared, but later realized it was part of a scam, according to the arrest report cited by News4JAX.
Investigators also relied on cellphone location data, which they said placed Williams near several fraudulent deposits. Authorities reported finding images of legitimate checks on his phone that were allegedly used as templates to create counterfeit checks, along with text messages discussing stolen identity documents, check-printing equipment and the movement of money through Zelle and wire transfers.
The investigation began after Williams and an associate were stopped on Interstate 75 in Ocala on Sept. 23, 2025. Officers reportedly discovered counterfeit checks and deposit receipts in the vehicle, leading to a broader financial crimes investigation.
The Charges
Williams faces charges including organized fraud, grand theft, money laundering, defrauding financial institutions, criminal use of personal identification information and multiple counts related to forged and false financial instruments.
Community First Credit Union declined to comment on the case, according to News4JAX.
In a statement provided to the station, VyStar Credit Union said: “As this is an ongoing law enforcement investigation, we cannot comment on the specific details of the case. VyStar takes fraud and financial crimes seriously and maintains processes to help prevent, detect, and investigate suspicious activity. We routinely work with law enforcement and other appropriate authorities when criminal activity is suspected and will continue to support their efforts as appropriate.”
