State Employee Arrested for Credit Union Auto Loan Fraud

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Johnston, RI – June 7, 2025 – Frequently, law enforcement is rather pathetic and dismissive when receiving reports of auto loan fraud. So, when they actually pursue one, it is encouraging. And that just what happened for one credit union and they received results.

The investigation began in February 2025 after Westerly Community Credit Union reported suspicious activity to authorities. In December 2024, an individual applied online to open a savings account, checking account, credit card, and a $51,000 auto loan with the bank.

The applicant provided a driver’s license, pay stub, vehicle bill of sale, vehicle title, and insurance documents, leading the bank to approve the loan and issue a $51,000 check to a Georgia car dealership for a 2019 Mercedes-Benz.

Suspicions arose in January 2025 when a man deposited a $5,265 check, later deemed fraudulent, at the bank’s Coventry branch. The bank also noted that no payments had been made on the credit card or auto loan.

Further investigation revealed that, except for the vehicle bill of sale, all documents used to open the accounts and obtain the loan were fraudulent.

Using surveillance footage from the Coventry branch, police identified the suspect as 45-year-old Ryan Garnetto of Johnston, a RIDOT engineer, who was seen driving a marked RIDOT vehicle.

Authorities allege Garnetto used the identity of an individual incarcerated at the Adult Correctional Institutions (ACI) since 2019, who had no computer access, to perpetrate the fraud.

Garnetto faces charges of identity fraud, filing a false statement to obtain a loan, passing a fraudulent check over $1,500, and obtaining money under false pretenses. He was arrested on Tuesday, June 3, 2025, and released on $25,000 personal recognizance.

State Employee Arrested for Credit Union Auto Loan Fraud – State Employee Arrested for Credit Union Auto Loan Fraud – State Employee Arrested for Credit Union Auto Loan Fraud

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