JACKSONVILLE, Fla. – A 41-year-old Orlando man is facing more than a dozen felony charges connected to an alleged counterfeit check fraud scheme that investigators say targeted seven businesses and approximately seven financial institutions across Northeast Florida.
Cy Williams was booked into the Duval County jail July 24.
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Investigators say all of the counterfeit check deposits happened in the Jacksonville area.
How the alleged scheme worked
According to the arrest report, Cy Williams and an associate are accused of orchestrating a counterfeit check fraud operation between April 28 and Sept. 16, 2025.
The investigation uncovered text message exchanges on Williams’ phone between himself, referred to as “Boogy,” and that associate, referred to as “Chico Black.”
Investigators say the pair recruited approximately 20 people to deposit 20 different counterfeit checks into their personal accounts — before facilitating immediate cash withdrawals.
The counterfeit checks totaled $68,410 and were made to appear as if they were issued by legitimate businesses.
Approximately $26,238.98 of the $68,410 was successfully stolen — whether through cash withdrawals, electronic wire transfers, or miscellaneous purchases, according to Williams’ arrest report.
VyStar Credit Union suffered a financial loss of approximately $13,549 due to the counterfeit check deposits. Community First Credit Union suffered a financial loss of $4,186, according to Williams’ arrest report.
ATM surveillance footage captured Williams standing alongside individuals as they conducted deposits, according to police. In one instance on April 28, 2025, a VyStar ATM showed Williams standing next to an account holder as she completed a counterfeit check deposit of $2,500.
Witness account
One woman told investigators she was approached in a VyStar parking lot by someone claiming to need help depositing a check because he had reached his daily limit.
“He mentioned he was trying to deposit these checks on one of his businesses because he reached his limit for the day and asked her if she minded depositing this check,” the report states. “[The woman] stated she didn’t feel like he was a scam until after the fact.”
She said she was told she would receive $50 once the check cleared.
Cell phone and GPS data
According to the arrest report, location data extracted from Williams’ phone placed him at or near the scene of deposits on multiple occasions. Investigators say they also found images of original checks on his phone that were used as templates for counterfeiting.
Text message exchanges on Williams’ phone between himself, referred to as “Boogy,” and his associate, referred to as “Chico Black” allegedly show the pair sharing stolen identity documents — including Florida driver’s licenses and U.S. passports — coordinating fraudulent deposits, discussing check-printing ink and equipment, and transferring funds via Zelle and wire transfers at Publix locations.
Investigators also obtained subpoena results from VyStar Credit Union identifying account holders whose accounts were associated with Williams and his associate.
The traffic stop that launched the case
The investigation began Sept. 23, 2025, when Williams and his associate were pulled over on Interstate 75 in Ocala. According to the arrest report, officers found counterfeit checks and deposit receipts inside the vehicle, prompting the financial crimes investigation that led to the arrest warrant.
Arrest, charges
Williams faces charges including organized fraud, two counts of defrauding financial institutions, grand theft, two counts of criminal use of personal identification information, money laundering, six counts of uttering forged instruments, and 10 additional counts of uttering false instruments.
A warrant for Williams’ arrest had been issued April 17.
Response from Community First Credit Union, VyStar
News4JAX reached out to VyStar and Community First Credit Union for comment following Williams’ arrest.
Community First Credit Union declined to comment on the case.
VyStar released a statement saying:
“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.”