TD Bank Employee Admits Role in $26 Million Colombian Money Laundering Scheme

North Plainfield man took bribes to open shell accounts and issue over 600 debit cards used to withdraw illicit funds from Colombian ATMs.

A former TD Bank employee based in New Jersey pleaded guilty this week to federal charges for his role in facilitating the laundering of over $26 million to Colombia through fraudulent bank accounts and debit card withdrawals, federal prosecutors announced.

Oscar Marcel Nunez-Flores, 34, of North Plainfield, New Jersey, pleaded guilty before U.S. District Judge Esther Salas in Newark to two counts: conspiracy to launder monetary instruments and receipt of bribes by a bank employee. Sentencing is scheduled for May 27, 2026.

According to court documents and statements made in court, from March 2021 until his arrest in October 2023, Nunez was employed at TD Bank’s Scotch Plains branch, where he accepted bribes in exchange for helping a money laundering network covertly transfer tens of millions of dollars from the United States to Colombia.

Nunez used his access at the bank to open dozens of business accounts under the names of shell companies with nominee owners, often without any customers present. He also ensured that over 600 debit cards were issued to these accounts—many of them by Nunez personally. Those cards were used to complete over 120,000 ATM withdrawals in Colombia, enabling co-conspirators to access U.S. funds overseas without detection.

Authorities said Nunez’s involvement extended beyond account setup. He also registered fake companies in New Jersey, opened bank accounts under those names, and sometimes mailed debit cards directly to co-conspirators in Colombia. For each fraudulent account, Nunez received bribes ranging from $500 to $2,500, often paid in cash or via digital peer-to-peer payment platforms.

“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," said Senior Counsel Philip Lamparello

“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,” said Assistant Attorney General A. Tysen Duva. “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.”

Nunez now faces significant prison time. The money laundering conspiracy charge carries a maximum sentence of 20 years and a $500,000 fine, or twice the value of the laundered funds, whichever is greater. The bribery charge could result in up to 30 years in prison and a $1 million fine, or three times the bribe amount involved.

The investigation was led by the U.S. Drug Enforcement Administration (DEA), IRS-Criminal Investigation (IRS-CI), and the Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG). The Morristown Police Department, the U.S. Attorney’s Offices in Puerto Rico and Washington State, and other agencies also contributed to the case.

Prosecutors include Assistant U.S. Attorney Marko Pesce, Chief of the Bank Integrity, Money Laundering, and Recovery Unit for the District of New Jersey, along with Trial Attorneys D. Zachary Adams and Chelsea Rooney of the Justice Department’s Money Laundering, Narcotics and Forfeiture Section (MLNFS).

The case is part of a broader initiative by the MLNFS Bank Integrity Unit, which investigates and prosecutes financial institutions and insiders whose actions compromise the integrity of the U.S. financial system.