Banking Sector Fraud Cases Plague Puerto Rico: Eight Charged with Conspiracy to Commit Fraud

A federal grand jury has returned a 40-count superseding indictment charging eight individuals with conspiracy to commit bank fraud, wire fraud, access device fraud, aggravated identity theft, and money laundering conspiracy. The investigation was conducted by the United States Postal Inspection Service (USPIS) and the Federal Bureau of Investigation (FBI).

The Scheme:

According to court documents, the scheme targeted mostly elderly clients of Banco Popular de Puerto Rico. Between October 2021 and present, Ángel De La Rosa, also known as “Julio Zapata,” and others posed as federal agents or bank officials, visiting victims’ homes claiming that their accounts had been compromised.

• The scammers asked for ATM debit cards and PIN numbers under the guise of helping restore account integrity.
• Once in possession of the cards, they used them to purchase Postal Money Orders at various US Post Offices throughout Puerto Rico, which were later negotiated into cash.

Money Laundering:

Defendants De La Rosa and Adonis Marquez-Marte made cash purchases totaling over $40,000 worth of jewelry at New York locations using proceeds from the fraudulent scheme. They also operated a jewelry store in San Juan as a means of laundering profits.

Warning Signs:

The US Attorney’s Office has urged citizens to take steps to protect their personal information, warning against sharing identification details with strangers and advising victims to report suspicious activity directly to their bank.

• Elder fraud is a sophisticated and widespread problem, often going unreported due to shame and fear.
• The FBI and USPIS are working together to combat these scams and encourage anyone who has been a victim or witness to report it to 787-987-6500 or submit a tip online at Tips.FBI.gov.

Consequences:

If convicted, the defendants face up to 30 years in prison and a mandatory consecutive sentence of at least two years for aggravated identity theft. The proceeds of the fraud scheme are subject to criminal forfeiture and include a vehicle and approximately $619,344. A federal district court judge will determine any sentence after considering sentencing guidelines and other statutory factors.

Next Steps:

The case is being prosecuted by Assistant US Attorney Alexander Alum. Victims of identity theft can obtain helpful information and complaint forms on the Federal Trade Commission ID Theft Website at www.ftc.gov/idtheft.

Important Note:

An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.