Bank Fraud Scheme Unfolds in Buffalo, NY: Two Men Sentenced for Conspiracy and Bank Fraud
BUFFALO, N.Y. – In a shocking turn of events, Michael Rosier, 23, and Cody Kross-Rosier, 23, both of Buffalo, NY, have been sentenced for their involvement in a bank fraud scheme that left a trail of financial devastation in its wake.
According to court documents, Rosier and Kross-Rosier conspired with others to defraud and fraudulently obtain money and funds from federally insured financial institutions between January and March 2014. The scheme involved using existing bank accounts and opening new accounts at six financial institutions in order to obtain and attempt to obtain money, services, and merchandise totaling over $120,000.
The defendants employed a clever tactic to prevent the financial institutions from discovering that there were insufficient funds to cover checks deposited into and written on the accounts. They floated checks between the accounts, hoping to avoid detection.
U.S. Attorney James P. Kennedy, Jr. announced the sentencing, stating that the defendants’ actions were a serious breach of trust and a threat to the financial stability of the community.
Assistant U.S. Attorney MaryEllen Kresse handled the case and praised the efforts of the United States Secret Service, under the direction of Special Agent-in-Charge Lewis Robinson, for their tireless work in bringing the perpetrators to justice.
Rosier was sentenced to 12 months in prison, while Kross-Rosier was sentenced to time served and three years supervised release, to include six months of home detention.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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