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A Methuen man who used his authority as a branch manager to fraudulently withdraw more than $560,000 from the accounts of deceased customers has been sentenced to prison for bank fraud.

Kazi Pervez, 42, a former branch manager at Santander Bank in Salem, New Hampshire, was sentenced to 12 months and 1 day in federal prison, according to a statement from New Hampshire’s U.S. attorney’s office.

According to court documents and statements made in court, Pervez used his position as branch manager to steal or attempt to steal more than $560,000 from the bank. As part of the scheme, Pervez opened or instructed bank employees to open accounts in the name of deceased bank customers, the U.S. attorney’s statement said. Pervez then withdrew funds from the accounts in amounts that exceeded the balance and used his authority as branch manager to authorize overdrafts from the account.

Pervez also identified inactive bank accounts belonging to deceased customers and transferred money out of those accounts to other accounts that he controlled, the statement said.

In some instances, Pervez transferred the stolen or overdrawn funds directly to accounts at other banks that he controlled or to pay his bills. Other times, the statement said, Pervez transferred the funds between several accounts at Santander Bank that he controlled before moving 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, the statement said, with more than $450,000 transferred to accounts outside the bank for his personal use.

Pervez previously had pleaded guilty in New Hampshire federal court in March. He was also ordered to forfeit $454,730.26, which the U.S. attorney’s office said would be used for restitution.

Former Santander Branch Manager Sentenced for Fraud

by Banker & Tradesman time to read: 1 min
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