Two Massachusetts residents are facing serious charges for their alleged involvement in a bank fraud scheme that swindled substantial funds from several bank customers. William Shaw, 67, from Boston, and Rosemary Parks, 59, from Hopkinton, have been recently charged and are now under arrest, according to a statement from the U.S. Attorney's Office. Shaw is addressing four counts of bank fraud and an equal number of aggravated identity theft charges, while Parks has been indicted on three counts of each.
The U.S. Attorney's Office alleges that from December 2022 through March 2025, Shaw purportedly played the part of no less than 11 bank clients. Parks is accused of impersonating at least eight customers from August 2024 through October of the same year. They utilized fake driver's licenses, which displayed their photos but contained the personal information of the customers, and presented withdrawal slips with the victims' names and account details. In their masquerade as real customers, Shaw allegedly managed to withdraw over $674,000 while, Parks is accused of taking more than $536,000 through cashier's checks and cash.
These indictments are part of a broader investigation by federal authorities that previously saw six men charged in July 2025. This clustering of individuals is allegedly connected to a multi-state bank fraud ring that targeted financial institutions across Massachusetts, Connecticut, and Rhode Island, hinting at an extensive criminal network adept at exploiting the banking system.
Bank fraud charges can lead to hefty penalties, including imprisonment for up to 30 years, supervised release spanning five years, and fines reaching $1 million or double the gross gain or loss, depending on which figure is greater. For aggravated identity theft, the law mandates a compulsory two years in prison, which must be served consecutively to any other sentence imposed. Despite these potential consequences, it's crucial to remember, "The details contained in the charging document are allegations. The defendants are presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law," as stated by the U.S. Attorney's Office.
U.S. Attorney Leah B. Foley, together with Special Agents in Charge Ted E. Docks and P.J. O'Brien from the FBI's Boston and New Haven Divisions, respectively, announced the arrests. Their announcement also acknowledged the contributions of multiple local police departments which provided essential support for the investigation. Assistant U.S. Attorney Kristen Kearney of the Securities, Financial & Cyber Fraud Unit is tasked with prosecuting the case.
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