Embezzling bank funds is a serious federal offense that carries steep legal consequences. This was evident in the recent sentencing of Derek Aut, a 29-year-old Saugus man who was employed as a teller at a Boston branch of a national bank. Aut was sentenced to 25 months in prison and ordered to pay more than $183,000 in restitution after pleading guilty to embezzlement by a bank employee and aggravated identity theft. His actions included forging withdrawal slips and shifting funds between customer accounts in an attempt to conceal his theft.
Federal embezzlement charges, especially when committed by someone in a position of trust like a bank employee, are prosecuted aggressively. In Aut’s case, the unauthorized transactions resulted in losses exceeding $180,000. The crime was uncovered when a customer noticed discrepancies in her account, leading to an investigation that revealed a broader scheme involving forged documents and misuse of personal financial data.
Individuals charged with embezzlement by a bank employee under federal law can face up to 30 years in prison and fines up to $1 million, particularly if the fraud involves federally insured financial institutions. Charges like aggravated identity theft carry mandatory minimum prison sentences, adding to the severity of the punishment. Beyond incarceration, convicted individuals often face long-term financial obligations and reputational damage that can follow them for life.
If you or someone you know is facing charges related to bank embezzlement or similar white-collar crimes, it’s critical to seek experienced legal counsel immediately. A skilled criminal defense attorney can help assess the case, negotiate with prosecutors, and develop a strategy that may lead to reduced penalties or alternative sentencing.
At Dhar Law, LLP, our award-winning team of fraud and embezzlement attorneys have defended countless serious white-collar crimes and cases o fraud in federal court. Don’t face these charges alone – contact a member of our team today at 617-880-6155.
