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TD Bank Employee Took Bribes To Help Fraudsters Access Customer Accounts, Prosecutors Say
Former TD Bank employee from Flushing pleaded guilty in Newark federal court to conspiracy and false bank entries; authorities said the schemes involved more than $500,000 in fraud.
A former New York-based bank employee admitted in federal court that he accepted bribes to obtain confidential customer information and falsify bank records in schemes prosecutors said enabled co-conspirators to steal more than $500,000 from victims.
Edward Low, also known as “Mang Wah Low” and “Eddie Low,” 31, of Flushing, New York, pleaded guilty Feb. 19, 2026, before U.S. District Judge Esther Salas in Newark to a two-count information charging conspiracy to commit wire fraud affecting a financial institution and making false bank entries or reports, according to court filings and statements made in court. Sentencing is scheduled for July 14, 2026.
Prosecutors said Low exploited insider access at two financial institutions during separate time periods, taking bribes to provide sensitive customer information and to open an account for a shell company—conduct authorities said directly enabled account takeovers, illicit transactions and significant financial losses.
“This defendant chose to sell his access to the banking system from the inside. By accepting bribes at two separate financial institutions, he betrayed the trust placed in him and enabled outside fraudsters to exploit customer accounts and falsify bank records for personal gain. The U.S. Attorney’s Office will continue to root out corruption within our financial institutions and hold accountable those—whether insiders or outsiders—who undermine the integrity of our banking system.” - Senior Counsel Philip Lamparello
What prosecutors allege happened at TD Bank
According to court filings and statements made in court, prosecutors said that from January 2021 through May 2021, Low was employed at TD Bank, N.A. and accepted bribes while using his position to obtain confidential information belonging to TD Bank customers.
Prosecutors said Low passed that information to outside co-conspirators, who then used it to take over customer accounts and steal money. Authorities also said Low processed some of the illicit transactions for the group.
In total, prosecutors said Low received at least $26,700 in bribes and facilitated $484,572.16 in fraud during that period.
Second scheme at another financial institution
Prosecutors said that from May 2022 through August 2022, Low worked at another financial institution. In exchange for a bribe, authorities said, he falsified bank records to help a co-conspirator open an account in the name of a shell company.
Co-conspirators later used that account to commit at least $47,195 in fraud, prosecutors said.
Penalties
The wire-fraud conspiracy charge affecting a financial institution carries a maximum penalty of 30 years in prison and a fine of $1 million, or twice the amount involved or lost, whichever is greater, prosecutors said. The false bank entries charge also carries a maximum penalty of 30 years in prison and the same potential fine structure, prosecutors said.
Investigation and prosecution
Authorities said the case was investigated by IRS Criminal Investigation and the FDIC Office of Inspector General. Prosecutors also thanked the Morristown Police Department for assisting with the investigation.
The case is being prosecuted by 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 Criminal Division, Money Laundering, Narcotics and Forfeiture Section, according to the announcement.
Federal prosecutors said the Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit investigates and prosecutes misconduct by banks and other financial institutions—including officers, managers and employees—when actions threaten the integrity of an institution or the broader financial system.
