Vance said his office has seen more and more crooks migrating from violent larcenies into banking and cyber-crimes. Use our online branch locator to find your nearest TD Bank ATM or branch in. Investigators said they developed a case by tailing the principals, conducting video surveillance, and analyzing banking credit card and phone records. TD Bank branches and ATMs in Las Vegas area Banking services offered by TD. Prosecutors said it was the bank that first exposed the scam after detecting suspicious patterns among the overdrafts. What I want consumers to know is that no customer data was ever comprised,” she said. “TD Bank maintains and upgrades our security systems regularly, but for security reasons we do not disclose what these are. “TD Bank conducted an internal investigation into this matter and we continue to work closely with authorities on their criminal investigation,” bank spokeswoman Rebecca Acevedo said of the scam. “This isn’t brain surgery if you know what the bank allows you to do,” Vance said. Szuchman said he believed the scam’s actual take is “north of a million.” The ringleaders worked with six other “recruiters,” who’d hire mules from among their friends and families, said David Szuchman, chief of the DA’s cybercrime and identity theft bureau. Cruz, 34 and Freddie Mercado, 25, all of The Bronx - ran the scheme for at least two years, officials said. Three ringleaders - Joel Luciano, 30, Jose M. The scammers preferred to make their big withdrawals at casino check- cashing counters, where large sums of money pass hands routinely. The ringleaders would fill each mule’s savings account with worthless checks, then transfer that fictitious savings balance into the mule’s checking account, where TD allowed it to be immediately withdrawn. Mules would each get about $200 to open an account. The ploy exploited a TD Bank loophole, since rectified, which allowed account holders to transfer money from a savings to a checking account and then immediately cash out what they’d transferred, Vance said. “It’s a very organized, long-term scam that preyed on a weakness at a specific bank,” DA Cyrus Vance Jr said. The mules? All each of them got was a couple hundred dollars, a treat at McDonalds on the drive home - and felony grand larceny and conspiracy raps that could put them in prison for up to seven years.
The ringleaders would pocket nearly $5,000 per mule on each trip to the casinos, Manhattan prosecutors said in announcing the indictments. The scam exploited a TD Bank funds availability loophole for at least two years - netting the bandits nearly half a million dollars in total. It was America’s Most Convenient Bank - for scammers.Ī band of crafty fraudsters recruited more than 90 “mules” to open TD Bank accounts - filled with false deposits using rubber checks - and then quickly drove the hired hands to Atlantic City and Foxwoods, where they cashed out at the casinos before the bad paper bounced, the Manhattan DA announced Wednesday.
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