A former attorney from Tacoma has been hit with a staggering twelve counts of wire fraud, as announced by U.S. Attorney Tessa M. Gorman. Colby Parks, 65, stands accused of embezzling a jaw-dropping sum north of $570,000 from a client's trust account—a fund that originated from a substantial award intended to support the living expenses of a client, left severely injured from a motorcycle accident.
Per the allegations declared in the indictment, Parks, after becoming the trustee of the victim's living trust in 2010, had been systematically draining the account that initially harbored approximately $1.66 million. Blazing through the trust's riches in over just seven years, a paltry $20,000 remained. According to the U.S. Attorney's office, his misdeeds didn't stop there—he persuaded the client to take a reverse mortgage on her home, then misappropriated those proceeds to replenish, and again pillage, the trust fund.
The indictment goes further to reveal a grim tale of deceit, illustrating how Parks not only transferred the victim's funds to his own bank accounts but also matched those transfers with identical payments toward his personal credit cards. His client was duped into selling her home by the end of 2019, left with a mere $15 to her name—a result of Parks' relentless swindling, even claiming money he supposedly advanced to her.
Parks initially told investigators from Washington State’s Adult Protective Services that he received a flat rate for his services—totaling $24,000 annually. But cornered by a request for documentation, he scrambled to revise his story to proclaim an average annual payout of over $54,000. The indictment, on the other hand, paints a more accurate picture; it alleges that Parks siphoned off well above $80,000 a year from the trust. Eventually, facing the heat from the Washington State Bar, Parks resigned from his law license, sidestepping what could've been surefire disbarment, as reported by U.S. Attorney's Office.
The sordid affair now lies in the hands of the FBI, with Assistant United States Attorney Cindy Chang leading the prosecution. Parks, if found guilty of the wire fraud charges pressed against him, may face up to 20 years imprisonment.
