Citibank employee transfers $166,000 to himself after gaining unauthorized access to 79-year-old dementia patient’s account: Manhattan District Attorney

A former personal banker at Citibank has admitted to stealing a huge wad of cash from an elderly customer.

According to the Manhattan District Attorney’s office, 35-year-old Juan Velez stole tens of thousands of dollars from a 79-year-old client over 12 months.

“According to court documents, statements made in court and as admitted in the defendant’s guilty plea, Velez abused his position as a personal banker at a Citibank location on the Lower East Side (of Manhattan) to gain unauthorized access to the account . from a 79-year-old man suffering from dementia who stole approximately $166,000 between April 2022 and April 2023.”

Velez created fake electronic checking accounts in the septuagenarian’s name and used them to transfer money, the Manhattan district attorney said.

The former Citibank personal banker bought himself a Harley-Davidson motorcycle with the stolen money. Velez also used the septuagenarian’s account to pay off some of his credit cards.

“The customer visited the branch frequently, often several times a week, and showed great confusion about the state of his finances.

During the time of the theft, Velez told his supervisor several times that he spent so much time helping the elderly customer because the customer had memory problems and did not understand the state of his finances.”

Velez faces up to six months in prison and five years of probation. The verdict will be pronounced in December. The former Citibank personal banker will also have to forfeit the Harley-Davidson motorcycle he acquired with the stolen money.

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