Results tagged “bankofnewyorkmellon”

Uh oh! For some unknown reason, Bank of New York Mellon, which had electronically deposited $185 million in pension funds into retired NYC teachers' and staffers' accounts a few days ago, decided to withdraw the money yesterday, causing—besides overdrafts— worries, chaos, and outrage. A 70-year-old retired social studies teacher told the NY Times, "Right now I am very annoyed because I was told by the bank not to make any checks today or use my debit card." And a retired teacher's assistant fretted to the Daily News, "I was very, very upset because my husband and I depend on this money."

While you were busy doing Sudoku at your temp job, industrious 19-year-old computer whiz Adeniyi Adeyemi was using his three month temp job to launch a $1.1 million fraud scheme, according to a 149-count indictment. During his stint in the IT department at Bank of New York Mellon in November 2001, Adeyemi allegedly stole personal identifying information from dozens of employees, using the information from more than 30 bank and brokerage accounts in their names. Over the next eight years he used the stolen identities to set up more than 30 fraudulent bank and brokerage accounts, prosecutors say.