A man from the Bronx, New York, Oliver Tejada, has been sentenced to five years in prison for his role in a bank fraud scheme. United States Attorney David Metcalf announced that Tejada was sentenced by Judge Timothy J. Savage to 60 months of imprisonment, followed by three years of supervised release. Additionally, he must forfeit $780,837.11.
Tejada was charged in May 2024 and pleaded guilty earlier this year to charges including conspiracy to commit bank fraud and aggravated identity theft. The scheme involved stealing over $1 million from at least 23 victims’ bank accounts. Although some transactions were reversed by banks, the actual loss amounted to $780,837.11.
The fraudulent activities included obtaining confidential bank information from victims, many of whom were elderly or retired. With this information, Tejada and his associates contacted banks to gather further account details before executing their plan.
Tejada collaborated with an imposter who used fake identification containing the victim’s personal details but displaying the imposter’s photo. They visited bank branches—ten out of eleven located within Pennsylvania—to withdraw cash or conduct wire transfers into accounts controlled by recruited individuals. These accounts were quickly emptied after receiving funds.
Homeland Security Investigations conducted the investigation, while Assistant United States Attorney Robert J. Livermore is handling the prosecution.
