NEWARK, N.J. – Two men from Essex County are behind bars and facing serious federal charges after a long-running bank fraud scheme allegedly drained over half a million dollars from victim banks. The U.S. Attorney’s Office announced the arrests this morning, detailing a brazen operation that exploited customer accounts and duped bank tellers.
Yaseen Salih, 19, of East Orange, New Jersey, and Chad Brown, 21, of Orange, New Jersey, are charged by complaint with one count of conspiracy to commit bank fraud. Both appeared before U.S. Magistrate Judge Mark Falk in Newark federal court today. Salih secured release on a $200,000 bond, but Brown was ordered detained pending further proceedings.
According to the complaint, the scheme spanned from September 2015 to the present. Salih, Brown, and their co-conspirators systematically targeted customer accounts at two banks, pilfering personal information – account numbers and PINs. In some instances, they allegedly obtained the actual debit cards. In others, Salih and Brown brazenly requested account access directly from the account holders.
The operation hinged on deception. A member of the conspiracy would call a bank teller, posing as a bank employee. This imposter would then manipulate the teller into crediting funds into the compromised customer accounts. Once the money was deposited, the conspirators would swiftly withdraw the fraudulently obtained funds through ATM withdrawals or by purchasing postal money orders using the stolen debit cards.
The scale of the fraud is substantial. To date, the losses stemming from this conspiracy exceed approximately $500,000. If convicted, Salih and Brown each face a maximum potential penalty of 30 years in prison and a $1 million fine – or twice the gross gain or loss resulting from their crimes.
Acting U.S. Attorney William E. Fitzpatrick credited postal inspectors from the U.S. Postal Inspection Service, under the direction of Inspector in Charge James V. Buthorn, with the investigation. Assistant U.S. Attorney Ari Fontecchio of the U.S. Attorney’s Office Criminal Division in Newark is prosecuting the case. It’s crucial to remember that these are allegations, and both defendants are presumed innocent until proven guilty. Salih is represented by Hassen Ibn Abdellah Esq., and Brown by Perry Primavera Esq.
Related Federal Cases
- CPA Barry Horrow Pleads Guilty to Bank Fraud Scheme · Delaware
- Shawn Hilliard Gets 12 Years for $1.3M Bank Fraud Scheme · Pennsylvania
- Nesbit Accused of Bank Heist in Fort Lee · New Jersey
- Va. Man Accused of Double Bank Heist in N.J. · New Jersey
- Chad Brown Admits Role in $1.5M NJ Bank Fraud Scheme · New Jersey
Key Facts
- State: New Jersey
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News