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Bergen County Con Artist Admits Funding Lavish Lifestyle With $5M Of Other People’s Money

A Bergen County con man admitted duping lenders and corporations out of nearly $5 million that he used to live the high life.

MLK Courthouse, Newark

MLK Courthouse, Newark

Photo Credit: Marcelo Gambetta Larronda

Matthew O’Callaghan, 43, of Upper Saddle River told a federal judge in Newark via video conference that he “impersonated two bank executives interested in funding syndicated loans for global companies,” U.S. Attorney Craig Carpenito said.

Referring to himself as “Edward Tierney” and “Michael Nash,” O’Callaghan submitted several bogus documents to the victim while using email addresses that appeared legitimate, false email signature blocks for the aliases that bore a bank logo and a form carrying the bank’s tax ID number, the U.S. attorney said.

O’Callaghan “directed the victims to wire funds to a bank account at [the purported bank] that O’Callaghan controlled,” Carpenito said.

He eventually converted $4.9 million of their money for himself -- buying a new car, joining a private club, gambling and traveling, the U.S. attorney said.

FBI agents arrested O’Callaghan this past March. He took a deal from the government rather than go to trial, pleading guilty Thursday to wire fraud.

U.S. District Judge Susan D. Wigenton scheduled sentencing for April 28.

Carpenito credited special FBI agents and inspectors of the U.S. Postal Inspection Service, both in Newark, with the investigation leading to the plea, secured by Assistant U.S. Attorney Jonathan Fayer of his Economic Crimes Unit in Newark.

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