Edison Man Charged With Conspiracy To Defraud NJ Banks Of $1M

EDISON, NJ — A man from Edison was indicted Friday for his role in a scheme to defraud banks of more than $1 million, Acting U.S. Attorney Rachael A. Honig announced.

Benjamin Rich, 37, is charged with one count of conspiracy to commit bank fraud and one count of aggravated identity theft. According to authorities, Rich and two other men, Felix Alamo and Frank Ambrosio, of Brooklyn, New York, were previously charged with conspiracy to commit bank fraud and aggravated identity theft.

According to court documents Rich, Alamo, and other conspirators agreed to defraud banks across New Jersey by using the stolen personal identification information to open fraudulent bank accounts and deposit stolen and counterfeited checks.

Authorities said Rich, Alamo, and others used stolen identities, which included Social Security numbers belonging to minors, to create sham businesses, and deposited stolen or counterfeited checks into the accounts and attempted to withdraw or transfer the funds before the banks could detect the fraud. They deposited approximately $1 million in fraudulently obtained checks into the fraudulent business bank accounts, resulting in at least $250,000 in losses to the various banks, according to court documents.

The charge of bank fraud carries a maximum of 30 years in prison and a statutory maximum fine $1 million, or twice the gain derived, or loss caused by the offense, Honig said.

The charge of aggravated identity theft carries a statutory minimum term of two years in prison, which must run consecutively to any term of imprisonment imposed on the bank fraud charge, and a statutory maximum fine of $250,000, or twice the gain derived or loss caused by the offense, whichever is greatest. Alamo previously pleaded guilty and will be sentenced on July 21, 2021.

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