Pennsylvania law enforcement charged 24 suspected members of a fraud ring that has stolen more than $3 million from banks and their customers, the state’s attorney general said.
Jeremy Antuan Boria Fraticelli, 22, allegedly steered the organization, which targeted people who kept funds at financial institutions in Cumberland, Dauphin and York counties, west of Philadelphia. Police arrested Fraticelli in October, and he faces 12 felony charges, including identity theft, working for a corrupt organization and computer trespass.
Fraticelli and the co-conspirators allegedly tricked customers into giving up their private banking information by impersonating customer-service representatives of financial institutions, according to
The alleged fraudsters used that stolen information to gain access to the victims’ accounts and transferred the money into funnel accounts, according to the announcement. They then withdrew the funds and split the profits.
“This criminal enterprise ruthlessly deceived hard-working Pennsylvanians and violated their sense of security by stealing from bank accounts — to the tune of more than three million dollars,” Sunday said. He also thanked the state police and financial institutions involved for their cooperation in the investigation.
“This case highlights the lengths criminals will go to exploit innocent people for financial gain,” said Pennsylvania state police commissioner Christopher Paris.
Fraticelli is accused of being one of six leaders of the organization, according to police, alongside Kermith Roldan-Lopez, 39; Juan Woodard Jr., 23; Tahire Reid, 26; Daniel Casiano, 22; and Shawn Chance, 27 — all of York. Additional arrests of the remaining 18 co-conspirators are ongoing.
Prior to his arrest, Fraticelli pleaded guilty to five low-grade (i.e., misdemeanor or lower) charges from 2021 to 2023, according to state court records. These charges were possession of a small amount of marijuana, harassment involving physical contact and traffic violations.
Roldan-Lopez, Woodard, Casiano and Chance had each faced low-grade charges previously, as well. Reid had previously faced felony drug charges.
Fraud rings grow in prominence
Banks have faced growing fraud threats in recent years. Suspicious activity reports, or SARs, related to check fraud have nearly doubled from 2021 to 2023, according to the FBI’s Internet Crime Complaint Center, or IC3.
This year, banks also reported fraud mitigation is their top spending priority, according to
The next highest category — real-time payment fraud — was a top concern of only 34%. The survey was based on responses from 212 leaders and staff at banks and fintechs.
The investments in fraud deterrence cut across organizational size. At the large end of the spectrum, JPMorgan Chase