Department of Justice
U.S. Attorney’s Office
Western District of New York
FOR IMMEDIATE RELEASE
Friday, February 10, 2023
Grand Jury Indicts Former Buffalo Man On Wire Fraud And Money Laundering Charges
CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX #: (716) 551-3051
BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that a federal grand jury returned a 12-count indictment charging Joshua Parra, 31, formerly of Buffalo, NY, now living in Melbourne, Florida, with bank fraud and money laundering conspiracy. The charges carry a maximum penalty of 30 years in prison and a $1,000,000 fine.U.S. Department of Justice Press Release
Assistant U.S. Attorney Charles M. Kruly, who is handling the case, stated that according to the indictment, Parra defrauded Bancorp and Stride Bank by creating 94 fictitious disputed transactions on behalf of 11 customers of Fintech Company 1, a financial technology company that offers customers mobile banking services. However, none of the 11 customers’ accounts with Fintech Company 1 had transactions that would justify such disputes. Nearly all of the fictitious disputed transactions were in the amount of $5,000. As a result, funds were transferred from settlement accounts, held at Bancorp and Stride Bank, to accounts maintained by the Fintech Company 1 customers for whom Parra created the fictitious disputed transactions. Losses to Bancorp and Stride Bank totaled approximately $450,000.
The indictment is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, under the direction of Special Agent in Charge Thomas Fattorusso, and the Federal Bureau of Investigation, under the direction of Acting Special Agent-in-Charge Darren Cox.
The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.
Categories: Anti-Money Laundering Department of Justice (DOJ) Updates Enforcement Actions Fraud Grand Jury Indictments and Arrests Wire Fraud
Leave a Reply