THREE BANK EMPLOYEES PLEAD GUILTY IN MANHATTAN FEDERAL COURT TO PARTICIPATING IN TAX REFUND FRAUD SCHEMES

Lawfuel.com – 12 August 2012 – Preet Bharara, the United States Attorney for the Southern District of New York, announced today that three former employees of J.P. Morgan Chase Bank (“Chase”) pled guilty in Manhattan federal court to participating in two separate tax refund schemes that used the identities of Puerto Rican citizens to obtain fraudulent tax returns. In the first scheme, KATHERINE TORRES, a former Chase branch manager, and ROSALIND SMITH, a former Chase employee at the same branch, pled guilty to participating in a scheme that defrauded the Internal Revenue Service (“IRS”) and New York State out of over $1 million.

In the second scheme, JUDITH FULGENCIO, a former personal banker at another Chase bank branch, pled guilty to participating in a scheme that also defrauded the IRS and New York State out of more than $1 million. TORRES and SMITH pled guilty before U.S. Magistrate Judge Henry

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