Massachusetts man sentenced to more than a year in prison for bank fraud | USAO-NH
CONCORD – Kazi Pervez, 42, of Methuen, Massachusetts, has been sentenced to 12 months and 1 day in federal prison for 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 2016 to September 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 on behalf of deceased bank customers. Pervez then withdrew the funds from the accounts that exceeded the account balances and used his authority as agency manager to authorize overdrafts on the account. Pervez also identified inactive bank accounts of deceased bank customers and transferred money from those accounts to other accounts he controlled.
Pervez sometimes transferred stolen or overdrawn funds directly to accounts at other banks he controlled or to pay his bills. Other times, Pervez transferred funds he stole or overdrawn between multiple accounts in the bank he controlled before transferring the money to accounts at other banks or to pay his bills. In total, Pervez stole or fraudulently overdrafted approximately $ 564,590.02 from other people’s bank accounts. Of this amount, Pervez successfully transferred over $ 450,000 to other accounts outside the bank for his personal use.
Pervez had already pleaded guilty on March 29, 2021. In addition to his sentence, Pervez was ordered to confiscate $ 454,730.26, which will be used for restitution.
“This defendant took advantage of his post at a bank to steal money from the bank accounts of deceased persons,” Interim US Attorney Farley said. “This significant breach of trust is also a serious federal crime. As this case shows, we are working closely with the Secret Service to identify and prosecute white collar criminals and to seek justice for victims of financial crimes.
“The US Secret Service is committed to investigating complex fraud schemes, especially those involving the exploitation of elderly and deceased victims. Said Timothy Benitez, resident agent in charge of the New Hampshire office of the US Secret Service.
This case was the subject of an investigation by the American secret services. The case was continued by Assistant US Prosecutors Matthew T. Hunter and John Kennedy and former Assistant US Prosecutor Arnold Huftalen. Assistant United States Attorney Robert Rabuck was involved in the forfeiture aspects of the case.