William Shaw, Bank Fraud, Massachusetts 2025

A stunning bank fraud scheme has been uncovered in Massachusetts, with two residents facing charges for their alleged roles in the multi-million-dollar scheme.

William Shaw, 67, of Boston, was indicted on four counts of bank fraud and four counts of aggravated identity theft. Shaw allegedly impersonated at least 11 bank customers, withdrawing more than $674,000 from their accounts between December 2022 and March 2025.

Rosemary Parks, 59, of Hopkinton, was also charged with bank fraud and aggravated identity theft. Parks allegedly impersonated at least eight bank customers, withdrawing more than $536,000 from their accounts between August 2024 and October 2024.

The bank fraud scheme involved Shaw and Parks using fake driver’s licenses with the customers’ information but their own photos, and presenting bank tellers with withdrawal slips that listed the customers’ names and account numbers.

The investigation into the bank fraud scheme is ongoing, with six men charged in July 2025 as part of a related investigation into a multi-million-dollar scheme to defraud banks in Massachusetts, Connecticut, and Rhode Island.

The charge of bank fraud provides for a sentence of up to 30 years in prison, five years of supervised release, and a fine of $1 million or twice the gross gain or loss, whichever is greater.

The charge of aggravated identity theft carries a mandatory two-year prison sentence consecutive to any sentence received on the other charges. Sentences are imposed by a federal district court judge based on the U.S. Sentencing Guidelines and statutes that govern the determination of a sentence in a criminal case.

The investigation was conducted by the Federal Bureau of Investigation, with valuable assistance provided by the Connecticut State Police, the Glocester (RI) Police Department, the Sutton Police Department, the Concord (MA) Police Department, the Dracut Police Department, the Westwood Police Department, and the Abington Police Department.

Assistant U.S. Attorney Kristen Kearney of the Securities, Financial & Cyber Fraud Unit is prosecuting the case.

The details contained in the charging document are allegations. The defendants are presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.

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