BUFFALO, NY – A pair of Buffalo men have been sentenced for their roles in a brazen bank fraud scheme that stretched across six financial institutions and racked up over $120,000 in fraudulent charges. Michael Rosier, 23, and Cody Kross-Rosier, 23, were brought to justice after a lengthy investigation by the U.S. Secret Service.
U.S. Attorney James P. Kennedy, Jr. announced the sentencing today, detailing how the duo conspired with others between January and March 2014 to systematically defraud banks. The scheme revolved around a classic “check kiting” operation, where the defendants bounced checks between existing and newly opened accounts to create the illusion of sufficient funds.
Assistant U.S. Attorney MaryEllen Kresse laid out the mechanics of the fraud. Rosier and Kross-Rosier weren’t after a quick score; they were after sustained access to money, services and merchandise, totaling well over $120,000. By skillfully (and illegally) moving funds between accounts, they attempted to delay the inevitable discovery of their insufficient funds – a tactic that ultimately failed.
The scheme was intricate enough to require coordination and a willingness to exploit the trust inherent in the banking system. The Secret Service, led by Special Agent-in-Charge Lewis Robinson, painstakingly untangled the web of transactions, tracing the flow of fraudulent funds and building a solid case against the two men. The agency’s expertise in financial crimes proved crucial in bringing the perpetrators to account.
U.S. District Judge Richard J. Arcara handed down the sentences: Michael Rosier received a 12-month prison term for his conviction on charges of conspiracy to commit bank fraud and bank fraud. Cody Kross-Rosier received time served and a three-year supervised release, including six months of home detention. While Kross-Rosier avoided further incarceration, the supervised release will ensure continued monitoring and accountability.
The sentencing serves as a stark reminder that even seemingly complex financial crimes are not beyond the reach of law enforcement. The U.S. Secret Service continues to prioritize the investigation and prosecution of individuals who attempt to exploit the financial system for personal gain, ensuring the integrity of our nation’s banks and financial institutions. This case is a result of the work of the Department of Justice Western District of New York.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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