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Ex-JPMorgan Employee Accused of $5Mn Scheme to Defraud Bank
[Photo: JPMorgan Chase Tower - Joe Mabel / Wikimedia Commons]
Lawrence Obracanik, who worked as an operations manager for JPMorgan's broker-dealer services, has been ordered to attend counseling for gambling is facing criminal charges that he engaged in a scheme to defraud the bank out of $5 million to pay personal debts.
Obracanik, 42, who is a resident of Ft. Worth, TX, turned himself in to authorities on Tuesday in New York, according to a spokesman for U.S. Attorney Preet Bharara. Following a court appearance that day before U.S. Magistrate Katharine Parker, he was released on a $100,000 bond. He was instructed as part of his bail conditions to seek employment and attend counseling for gambling, according to court records.
According to the complaint, from July 2014 to February 2016, Obracanik made or tried to make 22 wire transfers for more than $5 million from an account at a bank that was apparently JPMorgan to an account at another bank belonging to an unnamed individual. During an interview with 2 FBI agents in August, Obracanik admitted wiring the money to that person's account and said that he had done so to pay personal debts.
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