A former TD Bank employee pleaded guilty to accepting bribes and making false bank entries, U.S. Attorney Alina Habba announced.
Jhonnatan Steven Rodriguez, 32, of Naples, Florida, pleaded guilty to accepting bribes in exchange for fraudulently opening more than 100 bank accounts, according to the Wednesday announcement. The case underscores insider vulnerabilities within financial institutions and the methods fraudsters and money launderers use to conduct their crimes.
How the scheme worked
From approximately November 2022 through November 2023, Rodriguez charged individuals approximately $200 to $250 per bank account he opened. He used a free, person-to-person text messaging app and the alias "Jorge" to communicate with individuals seeking accounts. This allowed him to avoid detection by his employer, TD Bank, and others.
Individuals sent Rodriguez photos of identification documents and other personal identifying information via the app. After receiving payment through a peer-to-peer money transfer network, Rodriguez opened the requested accounts.
Rodriguez frequently forged the individuals' signatures on account opening documents and made false entries in the bank's records. He opened these accounts without the individuals being physically present at the TD Bank branch.
Upon opening, Rodriguez texted the new bank account's username and password to the respective individual. If requested, he also ordered a debit card to be sent to the individual's address on file.
Impact and losses
Rodriguez accepted approximately $37,601 in total payments for opening around 140 bank accounts. As part of his guilty plea, he agreed to forfeit those proceeds to the U.S.
Numerous individuals who paid Rodriguez to open accounts later used them to commit check fraud, involving both fraudulent personal checks and fraudulent cashier's checks.
The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a request for information on a range of payments-related fraud trends in order to develop policy solutions to the rising instances of check fraud.
This activity resulted in a total loss to TD Bank of approximately $72,000. As part of his plea agreement, Rodriguez will pay that amount back to TD Bank.
Individuals in Colombia used multiple accounts opened by Rodriguez to launder approximately $172,665 through ATM withdrawals in Colombia. Rodriguez did not receive bribes for the accounts specifically used in the Colombia money laundering.
Charges and penalties
Rodriguez pleaded guilty to two counts: receipt of bribes by a bank employee, and making false bank entries.
The charge of receipt of bribes by a bank employee carries a maximum penalty of 30 years in prison and a fine up to $1 million or three times the value of the bribe, whichever is greater.
The charge of making false bank entries carries a maximum penalty of 30 years in prison and a fine up to $1 million.
Rodriguez further agreed to any regulatory action by a federal financial institution regulatory agency, including permanent removal from office and prohibition from participating in the conduct of affairs of any insured depository institution.
Rodriguez's plea agreement includes an acknowledgement he will likely be removed from the United States if he is not a citizen. Court records do not indicate his citizenship status but do indicate English is not his native language.
Rodriguez remains released on a $100,000 bail. His sentencing is scheduled for November 25, 2025.
