Forex
Fed Bars Former Bank Employee Over Unauthorized Transactions Totaling $65,747
A former Banco Popular de Puerto Rico employee has been barred from working in the regulated banking industry by the U.S. Federal Reserve.
Gadiel J. Rosario-Alvarado, a Telephone Banking Consultant at the bank between 2023 and 2025, was found to have misappropriated approximately $65,747 from customer accounts over nearly two years.
The total amount of unauthorized transactions was around 50, with Rosario-Alvarado using customer funds to pay down his own credit card and that of a relative.