'As the Government explains, a check-kiting scheme typically works as follows:
"The check-kiter opens an account at Bank A with a nominal deposit. He then writes a check on that account for a large sum, such as $50,000. The check-kiter then opens an account at Bank B and deposits the $50,000 check from Bank A in that account. At the time of deposit, the check is not supported by sufficient funds in the account at Bank A. However, Bank B, unaware of this fact, gives the check-kiter immediate credit on his account at Bank B. During the several-day period that the check on Bank A is being processed for collection from that bank, the check-kiter writes a $50,000 check on his account at Bank B and deposits it into his account at Bank A. At the time of the deposit of that check, Bank A gives the check-kiter immediate credit on his account there, and on the basis of that grant of credit pays the original $50,000 check when it is presented for collection."
"By repeating this scheme, or some variation of it, the check-kiter can use the $50,000 credit originally given by Bank B as an interest-free loan for an extended period of time. In effect, the check-kiter can take advantage of the several-day period required for the transmittal, processing, and payment of checks from accounts in different banks. . . ."'