Rochester banker is accused of defrauding two people out of $500,000
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ROCHESTER, N.Y. — A Rochester banker is accused of defrauding two victims out of hundreds of thousands of dollars.
Federal prosecutors arrested and charged 34-year-old Timothy Siverd with wire fraud and money laundering.
Prosecutors say that in November 2021, Siverd was a vice president at Tompkins Community Bank when he carried out multiple schemes. He’s accused of convincing the victims to invest money into various real estate projects in the Rochester area, then allegedly kept the money.
Investigators claim the two victims paid him more than $500,000, but the money was used for gambling and personal expenses.