Two men were arrested on charges of money laundering, conspiracy to commit money laundering, and conspiracy to commit theft by deception in a scheme tied to a high-value New Jersey real estate transaction.
The investigation into the case began last December when the Bergen County Prosecutor’s Office Financial Crimes Unit was contacted by the Hackensack Police Department regarding a business email compromise scheme targeting a luxury real estate purchase. The investigation identified Jason S. McNeill and Ryan A. Telesford, who worked in coordination with additional individuals to defraud a Bergen County business.
Detectives determined that through encrypted electronic communications and fraudulent banking instructions, approximately $7,756,157 was diverted from its intended destination and transferred across a network of financial accounts controlled by members of the conspiracy.
Investigators determined McNeill and Telesford facilitated the movement and concealment of the proceeds, including transfers into accounts under their control.
Telesford was arrested at his residence in Lake Worth, Florida on May 27 while McNeill was arrested the next day at his residence in Wyckoff, New Jersey.
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