Hudson County Man, Ramon Herrera Sentenced to 27 Months in Prison for Role in Wire Fraud Scheme to Defraud Financial Institution Customers
NEWARK, N.J (STL.News) A Hudson County, New Jersey man has been sentenced to 27 months in prison for participating in a scheme that involved defrauding financial institution customers of almost half a million dollars, Acting U.S. Attorney Rachael A. Honig announced today.
Ramon Herrera, 37, of Jersey City previously pleaded guilty before U.S. District Judge Katharine S. Hayden to an information charging him with one count of wire fraud. Judge Hayden imposed the sentence May 13, 2021, in Newark federal court.
According to documents filed in this case and statements made in court:
Between May 2015 and January 2018, Herrera used his position as a registered broker and financial advisor at a clearing services company associated with “Financial Institution-1” to meet and learn confidential information about Financial Institution-1 customers in the Hudson County area, for whom he was ostensibly providing advice and brokerage services. Herrera caused the Financial Institution-1 customers he was advising, many of whom were elderly or communicated with Herrera in Spanish, to sign blank withdrawal slips, which Herrera then completed and presented to bank tellers at Financial Institution-1 branches.