A former TD Bank employee based in New Jersey, Oscar Marcel Nunez-Flores, pleaded guilty to accepting bribes and facilitating the movement of more than $26 million from the United States to Colombia through a money laundering scheme. Nunez entered his plea before Judge Esther Salas and is scheduled for sentencing on May 27.
According to court documents, between March 2021 and October 2023, Nunez used his position at TD Bank’s Scotch Plains branch to help launder funds by opening accounts under shell company names with nominee owners. Many of these accounts were opened without any customer present. Over 600 debit cards were issued for these accounts, most by Nunez himself. The debit cards were then used for over 120,000 ATM withdrawals in Colombia.
Nunez also shipped debit cards directly to a co-conspirator in Colombia after issuing them to fraudulent accounts. He registered shell companies in New Jersey and opened TD Bank accounts in their names as part of the scheme. For each account he opened, he received payments ranging from $500 to $2,500 either in cash or via peer-to-peer digital payment networks.
Senior Counsel Philip Lamparello stated: “This case shows how complex money laundering schemes often depend on insiders who are willing to bend—or break—basic safeguards. Our office will continue to identify, investigate, and prosecute those who turn financial institutions into vehicles for large-scale criminal activity.”
Assistant Attorney General A. Tysen Duva commented: “Mr. Nunez afforded his co-conspirators unfettered access to TD Bank, while lining his own pockets in the process, and has been held to account, as will be others who abuse the financial system. The Criminal Division is committed to protecting the security of our financial system and the Bank Integrity Unit is at the vanguard of that critical mission.”
The investigation was conducted by multiple agencies including the U.S. Drug Enforcement Administration (DEA), IRS-Criminal Investigation (IRS-CI), and Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG). Additional assistance came from local police departments and other U.S. Attorney’s Offices.
The charges against Nunez carry significant penalties: up to 20 years in prison and a fine up to $500,000 or twice the amount involved for money laundering conspiracy; up to 30 years in prison and a fine up to $1 million or three times the amount involved for receipt of bribes by a bank employee.
Assistant U.S. Attorney Marko Pesce along with Trial Attorneys D. Zachary Adams and Chelsea Rooney are prosecuting this case.
The Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit focuses on investigating banks or their employees whose actions may threaten institutional or systemic integrity.
