VP Of A Rochester Bank Is Charged With Wire Fraud And Money Laundering
Written by Andre on October 17, 2022
If you are thinking about investing money with people you know make sure you do your homework before you give them any money.
We tend to be weary of people we don’t know but I would implore you to keep the same energy with people you do know when it comes to money. This news story is just the reason why you should research your friends before you invest any money with them.
Timothy Siverd, Vice President of Tompkins Community Bank here in the Rochester area was charged with wire fraud and money laundering. He allegedly scammed two people he knew out of a total of over $500,000. The first victim he defrauded for over $150,000 and the second victim he defrauded for over $340,000.
Siverd used real estate to swindle money from both victims and once they figured out things weren’t adding up they requested refunds. None of the transactions resulted in the victims securing their investments.
Siverd faces the maximum of 2o years in prison and a $250,000 fine if convicted.
Would you invest large amounts of money with people you are friends with? If so do you trust they will make the best decisions with your money?
Source: RochesterFirst.com
