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.