Source: US FBI
NEWARK, N.J. – An Essex County resident was charged for his role in a bank fraud conspiracy, United States Attorney Alina Habba announced.
Isiah J. Jordan, 27, is charged by criminal complaint with one count of conspiracy to commit bank fraud and one count of bank fraud. He made his initial appearance before U.S. Magistrate Judge Leda Dunn Wettre and was released on $100,000 bond.
According to documents filed in this case and statements made in court:
Jordan was part of a multi-person scheme to steal checks from the mail and deposit those checks into bank accounts controlled by his co-conspirators. For example, in June 2023, Company-1 mailed out a business check for over $50,000. That check was stolen and altered by Jordan and his co-conspirators such that the payee information on the original check was changed so that the check could be deposited into an account controlled by the conspirators. Then in July 2023, after the stolen check cleared, Jordan and his co-conspirators withdrew the money from the account and split the proceeds.
Jordan and his coconspirators then continued to actively recruit other members to participate in and join the conspiracy. Specifically, they recruited individuals who had long-standing bank accounts to continue the scheme of depositing stolen checks and withdrawing the funds before the bank or the victims whose checks were stolen were aware of the illegal activity.
The bank fraud conspiracy and the bank fraud charges both carry a maximum penalty of 30 years in prison and a maximum fine of $1,000,000.
U.S. Attorney Habba credited special agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Stefanie Roddy in Newark, and the New Jersey State Police, under the direction of Colonel Patrick J. Callahan, with the investigation.
The government is represented by Assistant U.S. Attorneys Casey S. Smith of the U.S. Attorney’s Office Criminal Division and Thomas S. Kearney of the U.S. Attorney’s Office Special Prosecutions Division in Newark.
The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
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Defense counsel: John Yauch, New Jersey