Guilty Plea Could Lead to 30-Year Sentence for Former Resident
(WNY News Now) – BUFFALO, N.Y. – A Buffalo man has pleaded guilty to defrauding two banks of nearly half a million dollars in a scheme involving fake transactions.
Joshua Parra, 32, formerly of Buffalo and now living in Melbourne, Florida, admitted guilt in federal court before U.S. Magistrate Judge Michael J. Roemer. He faces up to 30 years in prison and a $1 million fine for his role in the bank fraud case, according to U.S. Attorney Trini E. Ross.
Between December 2021 and January 2022, Parra orchestrated a fraudulent scheme involving 94 fictitious transactions across accounts with Bancorp and Stride Bank. Working on behalf of 11 customers from a financial technology company, Parra created the false transactions, each for around $5,000. None of the accounts had legitimate activity to support the disputes he filed.
Funds were wrongfully transferred to accounts maintained by the fintech customers, resulting in a combined loss of $459,000 to Bancorp and Stride Bank.
The case is being handled by Assistant U.S. Attorney Charles M. Kruly, with the investigation led by the IRS Criminal Investigation Division and the FBI. Sentencing will be scheduled at a later date.
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