NEWARK, N.J. — A former TD Bank employee has pleaded guilty to taking bribes in exchange for helping a money-laundering network move more than $26 million from the United States to Colombia through a web of shell accounts and debit cards, the U.S. Department of Justice reported.
Prosecutors said Oscar Marcel Nunez-Flores, 34, abused his position at a TD Bank branch in Scotch Plains, N.J., between March 2021 and his arrest in October 2023. In that period, he opened dozens of accounts in the names of sham companies—often without any customer present—and issued more than 600 debit cards that were later used in 120,000 ATM withdrawals across Colombia, the DoJ said.
Court records show Nunez also shipped debit cards directly to a co-conspirator overseas and helped register shell companies in New Jersey so they could obtain TD accounts. In return, he received payments ranging from roughly $500 to $2,500 per account, usually in cash or via a peer-to-peer app.
Federal officials framed the case as another example of how insider misconduct can undermine bank safeguards. Justice Department officials said such schemes frequently rely on employees willing to bypass basic controls, and warned that those who do so will face criminal consequences.
“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 pleaded guilty to two counts: conspiracy to launder monetary instruments and receipt of bribes by a bank employee. He is scheduled to be sentenced May 27 in federal court.
The money-laundering charge carries up to 20 years in prison and a fine of $500,000 or twice the amount involved, whichever is greater. The bribery count carries up to 30 years in prison and a fine of $1 million or three times the amount involved, DoJ said.