600 Debit Cards: Former Union Co. Bank Employee Guilty In $30M Colombian Fraud Ring

SCOTCH PLAINS, NJ — A former TD Bank employee in Scotch Plains pleaded guilty to taking bribes in order to orchestrate a money laundering operation of nearly $30 million.

Oscar Marcel Nunez-Florez, 34 of North Plainfield, pleaded guilty to charges of conspiring to launder monetary instruments and receipt of bribes by a bank employee.

Nunez used TD Bank accounts to help a laundering network move more than $26 million to Colombia, the U.S. Attorney's Office District of New Jersey said.

"This case shows how complex money laundering schemes often depend on insiders who are willing to bend-or break-basic safeguards," said Senior Counsel Philip Lamparello.

Nunez accepted bribes and leveraged his role between March 2021 and when he was arrested in October 2023. He opened dozens of accounts in the names of "shell" companies with nominee owners.

According to officials, Nunez knew the individuals were not actually controlling the accounts and created the accounts without any customers present.

More than 600 debit cards were used to make more than 120,000 ATM withdrawals in Colombia.

After Nunez issued cards to fraudulent accounts, he would ship them directly to a co-conspirator in Colombia. He also registered shell companies in New Jersey and used TD Bank to create accounts in their names.

Nunez would make accounts for a fee that ranged from around $500 to $2,500 that was usually paid with cash or through a peer-to-peer digital payment service.

The U.S. Drug Enforcement Administration, the Internal Revenue Service, the Federal Deposit Insurance Corporation Office of the Inspector General, the Morristown Police Department, the U.S. Attorney's Office for the District of Puerto Rico, and the U.S. Attorney's Office for the Western District of Washington all assisted with the case.

"Mr. Nunez afforded his co-conspirators unfettered access to TD Bank, while lining his own pockets in the process, and has been held to account, as will be others who abuse the financial system," A. Tysen Duva, Assistant Attorney General, said.

The money laundering conspiracy charge carries a maximum of 20 years in jail and a $500,000 fine, or twice the amount involved, whichever is higher. The receipt of bribes by a bank employee charge carries a maximum of 30 years in jail and a fine of $1 million, or three times the amount involved, whichever is greater.

Nunez is scheduled to be sentenced on May 27.

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