A New Jersey boat dealer has been indicted for selling US$2m worth of boats he did not own. The Asbury Park Press reported that Denis Kelliher of Toms River, New Jersey was indicted this week on counts of wire fraud for allegedly selling 13 boats without the knowledge of their owners. Kelliher allegedly made the sales between 2013 and 2016. Authorities said he used the money for personal use.

If Kelliher is convicted, he could face 20 years’ prison time, and a US$250,000 fine. He will also be subject to restitution to those who lost money for about US$2.2m.

The paper reported that in 2010, Kelliher was sentenced to 33 months in prsion for running a multimillion dollar bank fraud and money laundering scheme that involved a bank and two of his friends. Kelliher’s check-kiting scheme caused US$7.6m in bank overdraft fees. He obtained more than US$600,000 from friends to pay down those fees.