Story by Ethan
On June 4th, 2026, the arrest of Jose Polanco, age 52, was announced by Queens District Attorney Melinda Katz. Jose Polanco was charged with first and second-degree Grand Larceny, first and second-degree Criminal Possession of Stolen Property, and first-degree Scheme to Defraud. The arrest and charges against Jose Polanco were a result of an investigation handled by Assistant District Attorney Vinnette Campbell of the District Attorney’s Public Corruption Bureau, Detective Investigator Christina Kancso, and Investigative Accountant Barak Haimoff.
According to the Queens District Attorney’s Office, from January through March of 2026 Jose Polanco was employed as a “bank closer” for a law firm based in Jackson Heights, New York. His job included managing documents and checks from borrowers and ensuring their proper distribution at loan closings. During these duties the defendant is alleged on two occasions to have issued insufficient funds checks for over $400,000 at refinancing closings. One of the victims who had a $300,000 mortgage from refinancing ended up losing $212,000 in funds that were supposed to be paid out to various creditors. This left the victim responsible for both the refinancing and interest on the original loans. A second victim lost approximately $193,000 on a mortgage refinancing due to Jose Polanco’s actions, leaving them responsible for the original loan and the amount owed for the refinancing. Due to Jose Polanco’s alleged actions of cashing in false checks, Dime Community Bank lost approximately $744,000 and is still currently owed approximately $657,000. During this period the defendant transferred over $1,500,000 to several different bank accounts in Peru.
The Queens District Attorney’s Office stated that the charges against Jose Polanco are merely accusations, and the defendant is presumed innocent unless proven guilty beyond a reasonable doubt in a court of law.
