(WNY News Now) – A Buffalo man will spend more than seven years in federal prison after using stolen identities to obtain millions of dollars in fraudulent financing from lenders across the country.
ROCHESTER, N.Y. — A 54-year-old Buffalo man has been sentenced to 87 months in federal prison for orchestrating a multi-million-dollar fraud scheme that used the personal information of dozens of small-business customers without their knowledge or authorization.
Paul Paredes, who was convicted of wire fraud and aggravated identity theft, was sentenced by Chief U.S. District Judge Elizabeth A. Wolford. He was also ordered to pay $8,754,446.64 in restitution to 57 victims, according to U.S. Attorney Michael DiGiacomo…