General · May 14, 2021 0

Ramon Herrera Sentenced for Role in Wire Fraud Scheme

Hudson County Man, Ramon Herrera Sentenced to 27 Months in Prison for Role in Wire Fraud Scheme to Defraud Financial Institution Customers

NEWARK, N.J (STL.News) A Hudson County, New Jersey man has been sentenced to 27 months in prison for participating in a scheme that involved defrauding financial institution customers of almost half a million dollars, Acting U.S. Attorney Rachael A. Honig announced today.

Ramon Herrera, 37, of Jersey City previously pleaded guilty before U.S. District Judge Katharine S. Hayden to an information charging him with one count of wire fraud.  Judge Hayden imposed the sentence May 13, 2021, in Newark federal court.

According to documents filed in this case and statements made in court:

Between May 2015 and January 2018, Herrera used his position as a registered broker and financial advisor at a clearing services company associated with “Financial Institution-1” to meet and learn confidential information about Financial Institution-1 customers in the Hudson County area, for whom he was ostensibly providing advice and brokerage services.  Herrera caused the Financial Institution-1 customers he was advising, many of whom were elderly or communicated with Herrera in Spanish, to sign blank withdrawal slips, which Herrera then completed and presented to bank tellers at Financial Institution-1 branches.  Herrera directed the bank tellers to withdraw the money from the customers’ accounts in the form of cashier’s checks, which enabled Herrera to then apply the checks against the various personal accounts that Herrera and a family member maintained at Financial Institution-1.  Herrera stole more than $450,000 from approximately 40 Financial Instiution-1 customers.  He used the stolen funds for his own purposes without the customers’ knowledge or authorization.

In addition to the prison term, Judge Hayden sentenced Herrera to three years of supervised release.

Acting U.S. Attorney Honig credited special agents of the FBI, under the direction of Special Agent in Charge George M. Crouch Jr. in Newark, with the investigation leading to today’s sentencing.

The government is represented by Assistant U.S. Attorney Jennifer S. Kozar of the U.S. Attorney’s Office Economic Crimes Unit in Newark.

SOURCE: USDOJ.Today

wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x