jp morgan chase bank
Two private bankers in New York City have been indicted for forging debit cards in order to withdraw $400,000 from bank accounts belonging to the very elderly or deceased.

The bankers, Jonathan Francis, 27, and Dion Allison, 30, of JP Morgan Chase bank, allegedly targeted 15 dormant accounts, at least eight of which belong to deceased persons who were still receiving deposits from the Social Security Administration, the New York Times reported.

Along with two friends, Gregory Desrameaux, 24, and Kery Phillips, 40, the men withdrew money from the accounts using ATM's located across New York City for a period of two years, with withdrawals ranging from $200 up to $2,000, according to the indictment.

The group didn't stop with simply withdrawing cash, they also are accused of creating fake power of attorney accounts, allowing Phillips to withdraw much more money than allowed within daily ATM limits, by going directly to bank tellers.

The same day that he turned in his forged power of attorney documents with a Chase branch, he went to a teller and withdrew $49,929.91, the entire remaining balance of the account.

All four of the men have been charged with conspiracy, grand larceny and falsifying business records.

Three of the men have been arrested, while Phillips remains at large.