The Manhattan District Attorney's office has indicted eleven people accused of impersonating account holders at major banks to withdraw $700K in funds, which they then used to purchase money orders.

The group was allegedly helmed by 30-year-old Chester Taylor of the Bronx and 27-year-old Daniel Persaud of Brooklyn—though they are accused of operating all over the country, the ring is based in New York, and all 11 defendants are from either New York or New Jersey. According to the DA's office Taylor and Persaud sent "soldiers" on more than 20 trips to JP Morgan Chase, Wells Fargo, Capital One, and Key Bank banks.

The group allegedly posed as legitimate account holders and withdrew $2,000 to $100,000 in funds; one of the accused, Marie Ferris, allegedly impersonated more than 25 account holders. The funds were then used to purchase money orders through the United States Postal service. The group also reportedly forged documents and identification in order to carry out the fraud.

The defendants have been charged with grand larceny, identity theft, and scheming to defraud.