A Boston woman was charged yesterday in federal court with embezzlement from a federally insured financial institution.
United States Attorney Michael J. Sullivan and Warren T. Bamford, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, announced today that PHYLLIS SHANNON, age 38, of 146 Readville Street in Readville, MA was charged in a one count indictment with embezzlement from a federally insured bank.
The indictment alleges that from October, 2003 through June, 2007 Shannon embezzled over $190,000 in funds from the Boston Private Bank and Trust Company where she worked as a supervisor in the accounts payable department. SHANNON embezzled the money by entering fraudulent travel and expense reimbursements and crediting her own personal accounts with these monies.
If convicted on these charges, SHANNON faces up to thirty (30) years imprisonment, to be followed by three (3) years of supervised release, and a $1 million fine.
The case was investigated by the Federal Bureau of Investigation and the Boston Police. It is being prosecuted by Assistant U.S. Attorney James P. Dowden of Sullivan's Economic Crimes Unit.
The details contained in the indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
SOURCE U.S. Attorney
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