Jay Clayton, U.S. Attorney for the Southern District of New York | Department of Justice
Anthony Tepedino, the founder and CEO of a New Jersey-based telecommunications construction company, has been charged with commercial bribery, fraud, and witness tampering offenses. The announcement was made by U.S. Attorney for the Southern District of New York Jay Clayton, along with officials from the FBI, Department of Investigation (DOI), FDIC Office of Inspector General (FDIC-OIG), and IRS-Criminal Investigation (IRS-CI). Tepedino was arrested on Thursday morning and is set to appear before U.S. Magistrate Judge Barbara Moses. The case is assigned to U.S. District Judge Richard M. Berman.
“As alleged, Anthony Tepedino turned a major construction company into his personal cash machine, stealing from companies that serve New Yorkers, bribing insiders, and lying to banks to keep the scheme alive,” said U.S. Attorney Jay Clayton. “Fraud and corruption hurt real people in this city, and we will hold accountable any executive who abuses the trust placed in them.”
"Anthony Tepedino allegedly stole millions of dollars from his own company by fabricating fake businesses, invoices, and even a story to conceal his misconduct,” said FBI Assistant Director in Charge Christopher G. Raia. “Rather than serve the best interest of his company, Tepedino allegedly abused his rank as CEO and founder to mislead trusted customers and steer their money into his private accounts. The FBI will continue to investigate those who exploit their authoritative position to defraud others for personal profits.”
“As alleged, this defendant engaged in various fraud schemes, stealing millions of dollars from a company he founded and controlled through the use of shell companies and fake documents, and using some of those stolen funds to make commercial bribe payments to a co-conspirator in exchange for steering new contracts, also worth millions, to his company,” said DOI Commissioner Jocelyn E. Strauber. “I thank the U.S. Attorney’s Office for the Southern District of New York and our federal law enforcement partners for their work on this important investigation.”
“The FDIC-OIG is pleased to join our law enforcement colleagues in announcing this indictment,” said FDIC-OIG Special Agent in Charge Patricia Tarasca. “The charges reflected in this indictment reinforce the FDIC-OIG’s commitment to investigating allegations of fraud, bribery, and other crimes, as we seek to preserve the integrity of our Nation’s financial system.”
“The allegations against Tepedino paint a rainbow of fraud and criminal acts over more than half a decade,” said IRS-CI Special Agent in Charge Harry T. Chavis Jr., adding that IRS-CI continues its work on such investigations.
According to court documents described by prosecutors as allegations only at this stage:
From 2018 through 2024 Tepedino led several fraudulent schemes targeting both his own company’s largest customer (“Victim Company”), its largest creditor (“Victim Bank”), as well as siphoning funds directly from the construction firm itself by creating shell companies with associates that submitted false invoices totaling more than $5 million.
Prosecutors allege that proceeds were used not only for personal gain but also paid out as bribes exceeding $1 million between 2020-2024 to an employee at Victim Company responsible for directing lucrative contracts back toward Tepedino’s business interests; during these years Victim Company reportedly paid over $300 million for services.
Tepedino is also accused of making false statements while seeking more than $18 million in commercial credit from Victim Bank between late 2021–early 2022 regarding relationships with entities involved in these schemes.
Further allegations include attempts at witness tampering beginning September 2024 where he encouraged co-conspirators involved—one managing shell operations ("CC-1") and another inside Victim Company ("CC-2")—to provide misleading explanations about their conduct when approached by authorities.
Tepedino faces multiple counts: conspiracy related charges carrying up to 20 years imprisonment each; aggravated identity theft (mandatory two-year consecutive sentence); bank fraud (up to 30 years); wire fraud; honest services wire fraud; plus one count relating specifically to witness tampering.
Any sentencing would ultimately be determined by judicial decision if conviction occurs; all current claims remain accusations pending trial outcome.
U.S. Attorney Jay Clayton acknowledged investigative contributions from partner agencies including FBI agents based out of New York Field Office alongside members from DOI NY Regional Office and teams under Public Corruption Unit leadership within SDNY.
