United States Attorney for the Southern District of New York, Jay Clayton, announced that Anthony Tepedino, founder and CEO of a New Jersey-based telecommunications construction company, has been charged with commercial bribery, fraud, and witness tampering. Tepedino was arrested and is scheduled to appear before U.S. Magistrate Judge Barbara Moses. The case will be overseen by U.S. District Judge Richard M. Berman.
“As alleged, Anthony Tepedino turned a major construction company into his personal cash machine, stealing from companies that serve New Yorkers, bribing insiders, and lying to banks to keep the scheme alive,” said U.S. Attorney Jay Clayton. “Fraud and corruption hurt real people in this city, and we will hold accountable any executive who abuses the trust placed in them.”
FBI Assistant Director in Charge Christopher G. Raia stated: “Anthony Tepedino allegedly stole millions of dollars from his own company by fabricating fake businesses, invoices, and even a story to conceal his misconduct. Rather than serve the best interest of his company, Tepedino allegedly abused his rank as CEO and founder to mislead trusted customers and steer their money into his private accounts. The FBI will continue to investigate those who exploit their authoritative position to defraud others for personal profits.”
DOI Commissioner Jocelyn E. Strauber commented: “As alleged, this defendant engaged in various fraud schemes, stealing millions of dollars from a company he founded and controlled through the use of shell companies and fake documents, and using some of those stolen funds to make commercial bribe payments to a co-conspirator in exchange for steering new contracts, also worth millions, to his company. I thank the U.S. Attorney’s Office for the Southern District of New York and our federal law enforcement partners for their work on this important investigation.”
FDIC-OIG Special Agent in Charge Patricia Tarasca said: “The FDIC-OIG is pleased to join our law enforcement colleagues in announcing this indictment. The charges reflected in this indictment reinforce the FDIC-OIG’s commitment to investigating allegations of fraud, bribery, and other crimes, as we seek to preserve the integrity of our Nation’s financial system.”
IRS-CI Special Agent in Charge Harry T. Chavis Jr., added: “The allegations against Tepedino paint a rainbow of fraud and criminal acts over more than half a decade. Bribery, bank fraud, and stealing from his own company are on the list of ways he’s alleged to have funded his life of luxury. IRS-CI continues to partner in investigations and use its financial expertise to subject alleged conduct like Tepedino’s to justice.”
According to the indictment allegations—which should be treated as such until proven otherwise—Tepedino led several fraudulent schemes between 2018 and 2024 while serving as CEO of the construction firm he founded.
Prosecutors allege that Tepedino created shell companies with co-conspirators using false invoices that resulted in at least $5 million being taken from his own business over several years. Some proceeds were used as bribes paid out between 2020-2024 totaling more than $1 million; these payments went to an employee at one customer firm who then steered lucrative contracts back toward Tepedino’s business.
The construction company reportedly generated hundreds of millions annually at its peak operations with over 500 employees during this period.
In addition to internal thefts through shell entities set up with associates—one impersonating another individual—Tepedino is accused of making false statements when seeking more than $18 million in credit from one bank lender between late 2021 through early 2022.
Further charges allege that after September 2024 Tepedino attempted witness tampering by encouraging co-conspirators involved in these activities to provide misleading explanations about their roles if questioned by authorities.
Tepedino faces multiple counts including conspiracy related offenses (wire fraud/honest services wire fraud), aggravated identity theft (with mandatory two-year consecutive sentence), bank fraud (upwards maximum penalty thirty years), witness tampering (maximum twenty years). Sentencing will ultimately be determined by judicial discretion based on statutory guidelines.
U.S. Attorney Clayton commended investigative efforts led by agents from FBI; Department Of Investigation; FDIC-OIG; IRS-CI; along with special agents/officers assigned within SDNY’s office itself.
Assistant U.S Attorneys Jessica Greenwood; Matthew King; Daniel H Wolf are prosecuting under direction from SDNY Public Corruption Unit.
It is emphasized that all charges remain accusations until guilt is established through court proceedings.
