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$10M Bank Fraud Scheme: Mayor’s Office Director Tommy Lin Busted
Grimy Times has learned that Tommy Lin, a 41-year-old former Director at the New York City Mayor’s Office, has been arrested in connection with a massive $10 million bank fraud scheme. According to sources, Lin, a Senior Advisor to the NYPD’s Asian Advisory Council, allegedly used his position to leak personal identifying information to members of the scheme, run background checks, and even arranged for a federal immigration officer to arrest an individual in exchange for $20,000 in cash.
Lin, a resident of Forest Hills, New York, was charged in a Superseding Indictment with one count of bank fraud conspiracy, which carries a maximum sentence of 30 years in prison, and one count of conspiracy to commit wire fraud affecting a financial institution, which carries a maximum sentence of 30 years in prison.
U.S. Attorney Damian Williams slammed Lin’s alleged scheme, saying, “Tommy Lin allegedly participated in a complex bank fraud scheme while serving as a Director in the New York City Mayor’s Office and Senior Advisor to the NYPD’s Asian Advisory Council. Leveraging his connections to law enforcement, he allegedly leaked personal identifying information to members of the scheme, ran background checks for them, and even arranged for federal immigration authorities to arrest an individual in exchange for $20,000 in cash.”
FBI Assistant Director in Charge James Smith added, “Tommy Lin, a former director in the Mayor’s Office, allegedly participated in a scheme to defraud more than a dozen financial institutions of at least $10 million by submitting illegitimate fraud reports to force the banks to reimburse them. To facilitate this conspiracy, Lin allegedly assisted members of the scheme in running background checks and accepted a significant cash bribe to arrange the arrest of a slighted accountholder by immigration authorities.”
Lin’s alleged scheme involved stealing millions of dollars from banks by causing transfers of funds between accounts they controlled, then falsely and fraudulently reporting that the transfers were unauthorized, which induced the financial institutions to credit them the amount of the transfers.
The case is assigned to U.S. District Judge Colleen McMahon. Lin is expected to be presented today before U.S. Magistrate Judge Stewart D. Aaron.
The investigation was led by the FBI’s New York Field Office, with assistance from the U.S. Attorney’s Office for the Southern District of New York. The case is a reminder that even those in positions of power and influence can fall victim to their own corruption and greed.
Grimy Times will continue to follow this developing story and provide updates as more information becomes available.
Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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