Former #Madison man #charged with #bank fraud, other #charges for #counterfeit #checks

A former Madison man indicted 4½ years ago for crimes including withdrawing cash on a counterfeit check appeared Wednesday in federal court, charged with a dozen felonies.

The indictment against James G. Dudgeon, 59, issued by a grand jury in June 2013, was unsealed Wednesday after Dudgeon’s arrest. It charges Dudgeon with six counts of bank fraud, four counts of uttering a counterfeit security, one count of money laundering and one count of wire fraud, all dating from 2008 and 2009.

Assistant U.S. Attorney Robert Anderson said authorities had been unable to find Dudgeon, possibly because he has lived in different places since 2013.

Dudgeon was arrested in Rockford, Illinois, where he had moved recently.

Dudgeon was released from custody after appearing in court.

Social media accounts in Dudgeon’s name say he is chairman of Balantrodoch Ventures LLC, an investment firm specializing in technology, financial instruments, corporate financing and shareholder investments.

Prior to that, from 1992 to 2015, according to Dudgeon’s LinkedIn page, he was managing partner of Torosay Properties LLC.

Corporation records at the state Department of Financial Institutions don’t list a company called Balantrodoch Ventures, and indicate that Torosay Properties was listed by DFI as administratively dissolved in March 2008.

Court records state that Dudgeon was convicted in 1998 in Dane County of theft in a business setting and theft by false representation, and in 2002 of issuing worthless checks. He served time in prison after revocation of the probation he received in both cases.

According to the indictment:

On Aug. 5, 2008, Dudgeon opened an account for Torosay Properties at Associated Bank in Madison, listing himself as its president. He deposited a counterfeit check for $48,210 in Canadian funds, purportedly from Marsh Canada Limited, an insurance company.

Within days, he withdrew cash from the account and had Associated Bank wire $39,709 to accounts overseas. He told bank employees that Torosay Properties helped people around the world find locations to start businesses and that the Marsh Canada checks were to pay him for deals from a couple of years earlier. He also told the bank he had been paid with Marsh checks in the past and had never had a problem.

In addition to the money withdrawn in cash, $31,709 was wired to a company in Japan through a Japanese bank, and two $4,000 payments were sent to another person through a bank in London.

On Aug. 25, 2008, and April 16, 2009, Dudgeon possessed three other counterfeit checks, one purportedly from Marsh Canada for $56,504, another for $158,850 from Hilite International of Carrollton, Texas, and one for $25,000, purportedly from Antelope Valley Federal Credit Union of Lancaster, California. Two were written to Torosay Properties, while the third was issued to Dudgeon.

The indictment doesn’t state why Dudgeon had those checks or if he attempted to deposit them, but the charge states that he possessed the checks “with the intent to deceive another person.”

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