Banker Stole $105,000 from Deceased Customer

A former New Jersey bank employee has admitted to stealing over $105,000 in federal retirement benefits meant for a deceased customer, according to the U.S. Attorney’s Office.

Jorge Nova, 35, of Passaic, pleaded guilty to one count of wire fraud on April 17, 2024, in Newark federal court.

The scam unfolded at a commercial bank in Nutley, where Nova worked in 2014. A customer received Social Security Administration (SSA) retirement benefits via direct deposit, but the SSA was not notified of the beneficiary’s death.

For over four years, from 2014 to 2018, the SSA continued to deposit retirement benefits into the account, unaware that the beneficiary had passed away. Nova exploited this opportunity by causing debit cards to be issued in the beneficiary’s name, which he used to drain the retirement benefits from the account.

He also registered new accounts with a money service provider in the beneficiary’s name and withdrew money from a second bank account held in the beneficiary’s name. Nova’s scheme allowed him to fraudulently obtain over $105,000 intended for the deceased beneficiary.

The charge of wire fraud carries a maximum penalty of 30 years in prison and a maximum $250,000 fine. Nova is set to be sentenced on October 8, 2024.

U.S. Attorney Philip R. Sellinger credited the Social Security Administration’s Office of the Inspector General, New York Field Division, with leading the investigation that led to Nova’s guilty plea. The case was prosecuted by Assistant U.S. Attorney Rachelle M. Navarro of the Organized Crimes and Gang Unit in Newark.