S.J. ringmaster used inside help to steal more than $200K from TD Bank customer accounts

Courier Post, August 7, 2011

For more than two years, Kashon Adade sent many customers to TD Bank offices in South Jersey, authorities say. But all that business wasn’t welcome. Investigators claim Adade ran a bank-fraud ring that relied on insider help and identity theft to drain about $200,000 from the accounts of unsuspecting TD Bank customers. And that’s not all. Federal prosecutors assert another group counted on corrupt employees to target patrons at TD Bank, Citizens Bank and the former Wachovia Bank. A federal trial is to begin in October for alleged members of that group, who are accused of stealing more than $400,000 from November 2005 to May 2010. And on Thursday, New York City officials announced a 148-count indictment of six members of a ring that allegedly targeted scores of customers at one of the nation’s biggest banks. “Over the course of two years, accused criminals and corrupt bank employees colluded to defraud J.P. Morgan Chase and withdraw more than $1 million from the bank accounts of unwitting victims,” said Cyrus Vance Jr., Manhattan’s district attorney. According to court papers, the rings shared a common approach to thievery. http://www.courierpostonline.com/article/20110807/NEWS01/108070338/Officials-S-J-ringmaster-used-inside-help-steal-more-than-200K-from-TD-Bank-customer-accounts?odyssey=nav|head

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