The case against 34-year old New Jersey resident Bernard Santos has been brought by the New York attorney's office and the FBI. They allege that from approximately October 2005 through September 2006, Santo created phony e-mails and internal ING forms to make it appear as though an ING client had requested stock dividends to be transferred to certain bank accounts.

The charge-sheet alleges that Santos did this at least thirteen times, diverting over $500,000 in client funds to himself and his associate.

Santos has been charged with one count of wire fraud. If convicted he faces a maximum sentence of 20 years’ imprisonment and a maximum fine of $250,000.