Oliver Tejada Sentenced to 5 Years for $1M Bank Fraud Scheme

PHILADELPHIA, PA — Oliver Tejada, 25, from the Bronx, New York, was sentenced Wednesday to 60 months in federal prison by U.S. District Judge Timothy J. Savage for his role in a fraudulent scheme that stole over $1 million from at least 23 victims, many of whom were elderly.

Tejada pleaded guilty in March to conspiracy to commit bank fraud, bank fraud, and aggravated identity theft. He was also sentenced to three years of supervised release and ordered to forfeit $780,837.11, reflecting losses sustained by the affected financial institutions.

Court documents reveal that Tejada and his co-conspirators obtained confidential banking information from victims to impersonate them. They contacted banks to verify account balances and gather additional details. Using fake IDs bearing the victims’ personal data but the photos of accomplices, they withdrew or wired money to accounts controlled by the group, which were quickly drained.

The fraudulent activity occurred across multiple bank branches, mostly within the Eastern District of Pennsylvania. In several cases, banks mitigated victim losses by reversing fraudulent transactions.

The investigation was led by Homeland Security Investigations and prosecuted by Assistant U.S. Attorney Robert J. Livermore. The sentencing highlights the Department of Justice’s commitment to holding accountable those who exploit vulnerable individuals and abuse the financial system for personal gain.

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