Bronx Man Sentenced to Five Years for $780,837 Bank Fraud Scheme

Oliver Tejada, a 25-year-old resident of the Bronx, New York, has been sentenced to five years in prison for orchestrating a complex scheme that resulted in the theft of over $1 million from banks. The U.S. Department of Justice (DOJ) revealed that Tejada's scheme targeted 11 different bank branches, with 10 of them located in the Eastern District of Pennsylvania.

Tejada and his accomplices managed to steal more than $1 million from 23 victims. However, in some cases, the banks were able to detect the fraudulent transactions and reverse them, leading to a total loss of $780,837 for the banks. The scheme involved targeting the elderly and other vulnerable individuals to obtain their private bank account information. The conspirators would then make calls to the banks to gather additional information about their targets.

Using this information, an impostor with fraudulent documents, such as a fake ID, would visit various bank branches to make large withdrawals or wire transfers. These transfers were sent to accounts controlled by individuals recruited to receive the money and quickly deplete the accounts. In some instances, the impostor would use the fake identification documents to obtain a debit card.

Tejada was initially charged in May 2024 and pleaded guilty earlier this year to conspiracy to commit bank fraud, bank fraud, and aggravated identity theft. The elaborate nature of the scheme highlights the sophistication of the criminals involved and the need for enhanced security measures in the banking sector to prevent such fraudulent activities.