What began as a regular banking role in New Jersey ended with a guilty plea tied to an international money laundering operation.
Oscar Marcel Nunez-Flores, a former TD Bank employee, admitted in court that he took bribes to help move more than $26 million from the United States to Colombia using TD Bank accounts he controlled from the inside.
How the Scheme Worked From the Inside Out
According to court records, Nunez used his position at a TD Bank branch in Scotch Plains, New Jersey, to quietly build the infrastructure for laundering money.
Starting in March 2021, he opened dozens of bank accounts under shell company names—often without any customers physically present.
These accounts weren’t just placeholders. They became pipelines.
More than 600 debit cards were tied to the accounts Nunez set up, most of which he issued himself.
Those cards were then used for over 120,000 ATM withdrawals across Colombia, draining millions in illicit funds.
Debit Cards, Shell Companies, and Cash Payoffs
The operation relied on simplicity and volume.
Nunez shipped debit cards directly to a co-conspirator in Colombia and registered shell companies in New Jersey to give the accounts a paper trail.
For each company and account he helped create, Nunez collected fees ranging from $500 to $2,500, usually paid in cash or through peer-to-peer digital payment apps.
Over time, those small payments added up—while the money flowing through the accounts exploded into the tens of millions.
Federal Authorities Call Out the Breach of Trust
Justice Department officials were blunt in their assessment.
Prosecutors said Nunez effectively handed criminal networks “unfettered access” to a major U.S. bank while enriching himself.
Federal investigators stressed that bank employees play a critical role in stopping financial crime—and that abusing that responsibility puts the entire financial system at risk.
From the DEA to IRS Criminal Investigation to the FDIC’s Office of Inspector General, agencies involved emphasized that insider-enabled laundering is treated as a serious national security issue.
An Operation That Crossed Borders—and Lines
Law enforcement officials highlighted how transnational criminal organizations exploit financial systems just as much as geography.
The laundering network used U.S.-based accounts to move money quickly into Colombia, where it could be withdrawn with minimal friction.
Investigators say this case shows how seemingly routine banking actions—opening accounts, issuing debit cards—can become powerful tools for organized crime when controls are bypassed from within.
The Guilty Plea and What It Means
Nunez pleaded guilty to two federal charges:
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Conspiracy to launder monetary instruments, and
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Receiving bribes as a bank employee.
He is scheduled to be sentenced on May 27.
The laundering conspiracy charge carries a potential sentence of up to 20 years in prison, while the bribery charge carries a possible 30-year maximum, along with fines that could reach into the millions.
Who Investigated—and Who’s Prosecuting
The case was investigated jointly by the DEA, IRS Criminal Investigation, and the FDIC Office of Inspector General, with assistance from local police and multiple U.S. Attorney’s Offices across the country.
Prosecutors from the Justice Department’s Money Laundering, Narcotics and Forfeiture Section, along with federal prosecutors in New Jersey, are handling the case.
Why This Case Matters Beyond One Bank
Federal officials say this prosecution sends a clear message: banking insiders who sell access to criminal networks will be pursued aggressively.
The Justice Department’s Bank Integrity Unit continues to focus on employees, managers, and institutions whose actions undermine trust in the financial system.
What’s Next?
All eyes now turn to sentencing. With millions laundered, international coordination involved, and multiple agencies backing the case, Nunez faces the possibility of decades behind bars—and a stark reminder that even quiet crimes inside bank branches don’t stay hidden forever.
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