Albany Man Sentenced to 18 Months for Stealing $1M in Federal Funds

A 38-year-old Albany man is headed to prison after stealing nearly $1 million in federal funds meant to help struggling farmers pay off their loans. Asjid Parvez, 38, of Albany, was sentenced to 18 months in prison for his role in the scheme.

Parvez was one such borrower who had defaulted on a loan used to purchase a Maryland chicken farm in 2014. In 2022, the Inflation Reduction Act authorized the United States Department of Agriculture’s Farm Service Agency (FSA) to financially assist certain distressed borrowers, including Parvez.

Parvez knew he needed to use the funds to pay off the loan, but instead, he stole the money. He opened a bank account in the name of his lender, deposited the Treasury check, and then transferred the funds to other accounts he controlled.

The FSA sent Parvez a United States Treasury check in the amount of $972,564.61 in May 2023. Parvez admitted to using the funds to pay personal expenses and to fund real estate investments.

United States District Judge Anne M. Nardacci also ordered Parvez to serve 3 years of post-imprisonment supervised release and pay $972,564.61 in restitution to the FSA.

The FBI has already seized $516,974.54 traceable to the federal funds that Parvez stole. The U.S. Attorney’s Office’s Asset Recovery Unit has filed a civil action seeking the forfeiture of a residential property in Albany purchased using approximately $202,675 in stolen funds.

Assistant U.S. Attorney Michael Barnett prosecuted this case, and Assistant U.S. Attorney Elizabeth Conger is representing the United States in the asset forfeiture action. The FBI investigated this case with assistance from the United States Department of Agriculture Office of Inspector General.

Parvez’s actions may seem like a clever scheme, but it’s a crime that will catch up to those who think they can get away with it. The FBI and U.S. Attorney’s Office will continue to work together to hold individuals accountable for their actions.