NEWARK, NJ – Edward Low, a/k/a “a Mang Wah Low,” a/k/a “Eddie Low”, a former New York-based employee of TD Bank, N.A. and another financial institution, pleaded guilty today to accepting bribes to provide confidential customer information of TD Bank customers and to falsifying bank records to open a bank account at another financial institution, which helped co-conspirators commit more than $500,000 of fraud.
Low, 31, pleaded guilty today before the Honorable Esther Salas in Newark to a two-count Information charging him with conspiracy to commit wire fraud affecting a financial institution and making false bank entries or reports. He is scheduled to be sentenced on July 14, 2026.
“This defendant chose to sell his access to the banking system from the inside. By accepting bribes at two separate financial institutions, he betrayed the trust placed in him and enabled outside fraudsters to exploit customer accounts and falsify bank records for personal gain. The U.S. Attorney’s Office will continue to root out corruption within our financial institutions and hold accountable those—whether insiders or outsiders—who undermine the integrity of our banking system.”
- Senior Counsel Philip Lamparello
According to court filings and statements made in court, from January 2021 through May 2021, Low, of Flushing, New York accepted bribes and leveraged his position to obtain confidential TD Bank customer information. He then passed the information to outside co-conspirators, who used it to take over accounts and steal money from customers. Low also processed some of the illicit transactions for co-conspirators. In total, Low received at least $26,700 in bribes and facilitated $484,572.16 of fraud.
Then, from May 2022 through August 2022, Low was an employee at another financial institution. In exchange for a bribe, Low falsified bank records to help a co-conspirator open an account in the name of a shell company. Co-conspirators then used that account to commit at least $47,195 of fraud.
The charge of conspiring to commit wire fraud affecting a financial institution carries a maximum penalty of 30 years in prison and a fine of $1,000,000 or twice the amount involved in the offense or lost by a victim of the offense, whichever is greater. The charge of making false bank entries carries a maximum penalty of 30 years in prison and a fine of $1,000,000 or twice the amount involved in the offense or lost by a victim of the offense, whichever is greater.
IRS-CI and FDIC-OIG investigated the case. The department also thanks the Morristown Police Department for their assistance with the investigation.
Assistant U.S. Attorney Marko Pesce, Chief of the Bank Integrity, Money Laundering, and Recovery Unit for the District of New Jersey and Trial Attorneys D. Zachary Adams and Chelsea Rooney of the Criminal Division’s Money Laundering, Narcotics and Forfeiture Section are prosecuting the case.
The Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit investigates and prosecutes banks and other financial institutions, including their officers, managers and employees whose actions threaten the integrity of the individual institution or the wider financial system.
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