By: Richard L. Smith
A former employee of TD Bank, N.A. has admitted to accepting bribes and abusing his access to confidential customer information in a scheme that enabled more than half a million dollars in fraudulent activity.
According to an information release from the U.S. Department of Justice, Edward Low, 31, also known as “Mang Wah Low” and “Eddie Low,” pleaded guilty before U.S. District Judge Esther Salas in Newark to a two-count Information.
The charges include conspiracy to commit wire fraud affecting a financial institution and making false bank entries or reports. Sentencing is scheduled for July 14, 2026.
Federal officials said that between January and May 2021, Low, a resident of Flushing, New York, accepted bribe payments in exchange for accessing and sharing sensitive TD Bank customer information with outside accomplices.
Prosecutors say the stolen information was used to take over bank accounts and siphon funds from victims.
Court records indicate Low personally processed some of the fraudulent transactions and received at least $26,700 in bribes while helping facilitate approximately $484,572 in losses.
Authorities further stated that from May through August 2022, while working at another financial institution, Low accepted another bribe to falsify internal bank documents.
Those falsified records allowed a co-conspirator to open an account under the name of a shell company, which was later used to carry out an additional $47,195 in fraudulent transactions.
Senior Counsel Philip Lamparello said the case highlights the serious breach of trust when insiders exploit their positions within financial institutions.
Each charge carries a potential maximum sentence of 30 years in federal prison and a fine of up to $1 million, or twice the financial loss involved in the offense, whichever is greater.