Ex-bank employee charged with significant money fraud and embezzlement

On Behalf of | Mar 17, 2023 | White Collar Crimes

Recently, a business relationship manager at a financial company in Manhattan has been allegedly committing financial fraud and embezzlement to rob his former clients of their money from within their accounts. The FBI and U.S. Attorney for the Southern District of New York charged him.

Allegedly, the financial employee abused his position and took advantage of access to his clients’ accounts to steal more than 2 million dollars. From the perspective of the authorities, not only was it important to stop the alleged criminal from continuing his activities but it also represented a chance to make him accountable for his actions since he allegedly violated the trust of his clients.

What is the bigger picture?

The authorities say that when this sort of crime is committed, the public starts to lose trust and confidence in the American financial system. It should also be a message to other people who are considering committing similar offenses.

Based on the charges (one count of bank fraud, which carries a sentence of 30 years in prison; one count of embezzlement, which also carries a 30-year sentence in prison; one count of money laundering, which has a 20-year sentence; and one count of aggravated identity theft, which has a two-year sentence in prison) the man may never see the light of day again.

What do I do if I am in similar trouble?

If you are in a similar situation, it is a very good idea to consult a New York attorney who has the experience and knowledge to possibly turn your case around. Your case may be complicated and having an experienced New York criminal defense attorney can possibly help you to have a more favorable outcome that you may imagine. The attorney can also help you to protect your rights at the same time. After you have acknowledged your accountability, you can hopefully turn your life around and look forward to a brighter future.