NJ bank worker admits stealing $2.5M in scam
June 18, 2009
Total Loss:
$2.5 Million
A man who worked at two New Jersey banks has admitted stealing more than $2.5 million from customers by persuading them to invest in fraudulent certificates of deposit. Carlos Pinho of Clark pleaded guilty Wednesday in U.S. District Court to a one-count information charging him with mail fraud. He faces up to 30 years in prison and a $1 million fine when he's sentenced Sept. 21, although the actual prison term will likely be far less under federal sentencing guidelines.
Source:
Philly.com
Posted in:
Internal Fraud