By: Richard L. Smith
A Bergen County man has admitted to participating in a fraud scheme that caused losses exceeding $250,000, according to information released by the U.S. Department of Justice.
Terrance Hart, 47, of Garfield, pleaded guilty in Newark federal court to charges of wire fraud and aggravated identity theft before U.S. District Judge Stanley R. Chesler. His sentencing is scheduled for October 14, 2026.
According to court documents, Hart opened or directed others to open bank accounts using the names of other individuals and businesses while maintaining control over the accounts.
Federal prosecutors said he then deposited fraudulently obtained funds, including stolen U.S. Treasury checks, into those accounts.
Authorities said Hart later withdrew the money and used the proceeds for personal gain.
The wire fraud charge carries a maximum penalty of 20 years in federal prison and a fine of up to $250,000, or twice the amount of the financial gain or loss.
The aggravated identity theft charge carries a mandatory consecutive two-year prison sentence and additional potential fines.