Woman Admits to Stealing Over $600,000 From Dormant TD Bank Accounts

A South Jersey woman admitted embezzlling more than $600,000 from dormant TD Bank customer accounts, U.S. Attorney Paul J. Fishman said on Tuesday.

Telisha Trent, 43, of Williamstown, pleaded guilty to an information charging her with one count of bank fraud and one count of money laundering.

Trent admitted that between Aug. 9, 2014, and Sept. 11, 2015, she used her position as a financial services representative and bank teller at a TD Bank branch in Sewell, New Jersey, to identify checking and savings accounts belonging to elderly TD Bank customers that had become dormant.

Trent would then conduct research to see how likely it would be that the account holder notice funds were missing from their accounts, according to documents filed in the case and statements made in court.

She would steal the money in the dormant account by transferring the funds to accounts she controlled or have a cashier’s check issued in her name.

Trent then transferred the funds through a series of accounts that she controlled in order to hide her fraud. She also closed the dormant accounts.

She was able to collect $608,000 in cash from eight TD Bank customers in New Jersey, Connecticut, and Ohio, and she admitted that she spent the money on home renovations, lavish trips, two luxury BMW sedans, presents for her children, and other items.

After the fraud was discovered, TD Bank reimbursed the victims for the money and funds stolen by Trent.

The count of bank fraud carries a maximum potential penalty of 30 years in prison and a $1 million fine; the count of money laundering carries a maximum potential penalty of 10 years in prison and $250,000 fine.
Sentencing is scheduled for Nov. 7.