2 Held Over Alleged Counterfeit Check Ring

ENCINO — Two San Fernando Valley residents have been arrested in connection with a ring that created more than $1 million in counterfeit checks, authorities said Thursday.

Franco Nigro, also known as Behzad Tehrani, 34, of Encino, and Mazyar Jasbi Mohadjer, 26, of Woodland Hills, were arrested Wednesday by federal agents following a 10-month investigation. They face charges of bank fraud, wire fraud and conspiracy to commit bank fraud, according to a statement by the FBI.

Authorities allege Nigro obtained bank account information from bank insiders and account holders and then used the information to print counterfeit checks and recruit "runners" to cash the checks, the statement said.

Mohadjer recruited several bank employees to participate in the scheme and provided customer bank information to Nigro, the FBI said.

Nigro was held without bail and Mohadjer was released on bail.