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A plea agreement revealed a former Rhode Island state senator admitted that through his businesses he passed $74 million in worthless bank transactions in a check-kiting scheme using a credit union and bank accounts he controlled, federal prosecutors said last week.

When James E. Doyle II, 46, of Pawtucket was initially charged with bank fraud in August, prosecutors reported he ran a $550,000 check-kiting scheme that victimized three financial institutions, the $33.3 million Alliance Blackstone Valley Federal Credit Union in Pawtucket, Bristol County Savings Bank in Taunton, Mass., and Santander Bank in Boston.

Peter Strozniak

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