Gloucester County, New Jersey, Woman Admits Role In $600,000 Embezzlement And Money Laundering Scheme

CAMDEN, N.J. – A Gloucester County, New Jersey, woman today admitted embezzling more than $600,000 from dormant TD Bank customer accounts, U.S. Attorney Paul J. Fishman announced.

• Telisha Trent, 43, of Williamstown, New Jersey, pleaded in Camden federal court to one count of bank fraud and one count of money laundering
• From Aug. 9, 2014, through Sept. 11, 2015, Trent used her position as a financial services representative and bank teller at TD Bank to identify dormant checking and savings accounts, primarily held by elderly customers
• Trent would research the account holder in order to assess the risk of whether the account holder would notice that the funds in the account were removed
• She would steal the money in the dormant account by transferring the funds to accounts she controlled or have a cashier’s check issued in her name
• Trent then transferred the funds through a series of accounts that she controlled in order to hide her fraud. Also, in order to avoid detection, Trent closed the dormant accounts
• Trent admitted obtaining $608,000 in cash from eight TD Bank customers in New Jersey, Connecticut, and Ohio
• She admitted spending the money on home renovations, lavish trips, two luxury BMW sedans, items for her children, and other items
• TD Bank reimbursed the victims for the money and funds stolen by Trent
• The count of bank fraud carries a maximum potential penalty of 30 years in prison and a $1 million fine; the count of money laundering carries a maximum potential penalty of 10 years in prison and $250,000 fine
• U.S. Attorney Fishman credited special agents of the FBI’s South Jersey Resident Agency, under the direction of Special Agent in Charge William F. Sweeney Jr. in Philadelphia
• Sentencing is scheduled for Nov. 7, 2016

VICTIMS  & AMOUNTS