ALBANY and TROY, N.Y. — Seven individuals from Albany and Troy have been indicted in connection with a $7.1 million global fraud scheme, federal authorities announced.
The suspects allegedly tricked companies into wiring money to bank accounts tied to fictitious businesses. The indictments are part of Operation Tidal Wave, an FBI-led investigation that also resulted in the seizure of 135 illegal firearms.
The investigation began last summer after a bank flagged suspicious activity and alerted authorities. Those charged include Iziah Cox, 38; Kaya Cox, 41; Sincere Cox, 26; Davion Carrington, 38; Jahmell Manso, 27; Tiffany Banks, 42 — all from Albany — and Tamicca Jennings, 34, of Troy.
All seven face charges of conspiracy to launder $7.1 million in fraud proceeds. Additionally, Iziah Cox is charged with illegal possession of a firearm as a felon.
If convicted, each individual could face up to 20 years in prison, fines, and post-release supervision. Cox could face an additional 15 years in prison for the firearm charge.
Authorities say the case highlights the ongoing threat of sophisticated financial fraud and organized criminal activity in the region.
