Massachusetts: Kazi Pervez Pleads Guilty to Bank Fraud

Massachusetts Man, Kazi Pervez Pleads Guilty to Bank Fraud

CONCORD (STL.News) Kazi Pervez, 41, of Methuen, Massachusetts pleaded guilty in federal court to bank fraud, Acting United States Attorney John J. Farley announced today.

According to court documents and statements made in court, Pervez was a branch manager for a bank in Salem, New Hampshire.  From at least April of 2016 until September of 2017, Pervez used his position as branch manager to steal or attempt to steal more than $560,000 from the bank.  For example, Pervez opened or instructed bank employees to open accounts in the name of deceased bank customers.  Pervez then withdrew funds from the accounts that exceeded the balance of the accounts and used his authority as branch manager to authorize the overdraft from the account.  Pervez also identified inactive bank accounts of deceased bank customers and transferred money out of those accounts to other accounts that he controlled.

Pervez sometimes transferred the stolen or overdrawn funds directly to accounts at other banks that he controlled or to pay his bills.  Other times, Pervez transferred the funds he stole or overdrew between several accounts in the bank that he controlled before transferring the money to accounts at other banks or to pay his bills.  In total, Pervez stole or fraudulently overdrew about $564,590.02 from other peoples’ bank accounts.  Of that amount, Pervez successfully transferred more than $450,000 to other accounts outside the bank for his personal use.

Pervez is scheduled to be sentenced on August 5, 2021.

“White collar criminals can sometimes steal large sums of money from multiple victims with a few keystrokes on a computer,” said Acting U.S. Attorney Farley.  “We will continue to work closely with the Secret Service and all of our law enforcement partners to identify and prosecute criminals who commit bank fraud and fraud offenses.  Those who commit these crimes in New Hampshire should understand that they will be prosecuted in federal court for their unlawful conduct.”

“The US Secret Service is committed to investigating complex fraud schemes that involve the exploitation of vulnerable and deceased victims.” stated Timothy Benitez, Resident Agent in Charge of the U.S. Secret Service’s New Hampshire Office.

This matter was investigated by the United States Secret Service.  The case is being prosecuted by Assistant U.S. Attorney Matthew T. Hunter and former Assistant U.S. Attorney Arnold Huftalen.

SOURCE: USDOJ.Today