BUFFALO, N.Y. – A former Buffalo man has been hit with a 12-count federal indictment for an alleged $450,000 wire fraud and money laundering scheme that targeted Bancorp and Stride Bank.
Joshua Parra, 31, who now resides in Melbourne, Florida, is accused of orchestrating the fraudulent transaction by creating 94 fictitious disputes on behalf of Fintech Company 1 customers. None of these customers’ accounts had legitimate transactions to justify the disputes, with nearly all fake disputes amounting to $5,000.
Parra’s scheme involved transferring funds from Bancorp and Stride Bank settlement accounts to customer accounts he falsely linked to fictitious disputes. The total losses incurred by the banks were approximately $450,000.
The investigation leading to Parra’s arrest was spearheaded by the Internal Revenue Service, Criminal Investigation Division, under Special Agent in Charge Thomas Fattorusso, and the Federal Bureau of Investigation, under Acting Special Agent-in-Charge Darren Cox.
Assistant U.S. Attorney Charles M. Kruly is handling the case against Parra, who faces up to 30 years in prison and a $1,000,000 fine if convicted on all counts.
It’s important to note that an arrest or charge does not indicate guilt; Parra is presumed innocent until proven guilty in court.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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