NORTHERN NEW JERSEY – A 27-year-old Essex County resident, Isiah J. Jordan, has been charged in a federal bank fraud scheme involving stolen checks and fraudulent deposits, U.S. Attorney Alina Habba announced on Wednesday.
Jordan faces:
One count of conspiracy to commit bank fraud
One count of bank fraud
He appeared before U.S. Magistrate Judge Leda Dunn Wettre in Newark and was released on a $100,000 bond, pending further court proceedings.
According to court filings and hearing statements, Jordan and others stole checks from the mail, altered them, and deposited the funds into accounts controlled by co-conspirators. One key incident in June 2023 involved a check for over $50,000. The money was withdrawn in July 2023, then split among the group.
Authorities say the scheme expanded when Jordan and his associates recruited new participants with established bank accounts to carry out additional fraudulent deposits and rapid cash withdrawals before the thefts were detected.
If convicted, Jordan faces up to 30 years in federal prison and $1 million in fines per charge.
The case is being investigated by the FBI Newark Field Office and the New Jersey State Police. Assistant U.S. Attorneys Casey S. Smith and Thomas S. Kearney are prosecuting the case.
Jordan remains presumed innocent unless proven guilty in a court of law.
