Former Bank Employee Sentenced for Embezzlement, Reports U.S. Attorney

10 December 2006

A former employee in the Human Resources Department of the Eastern Bank in Lynn, Massachusetts, was sentenced today in federal court for embezzling over $260,000 from the bank.

United States Attorney Michael J. Sullivan and Sharon Ormsby, Acting Special Agent in Charge of the Federal Bureau of Investigation in New England, announced that ANGELO MARTIGNETTI, JR., age 28, of 77 Parkland Street, Lynn, Massachusetts, formerly of Beverly, was sentenced by U.S. District Judge Joseph L. Tauro to 1 year and 1 day of imprisonment, to be followed by 3 years of supervised release. Judge Tauro also ordered that MARTIGNETTI pay restitution in the amount of $263,678 to the bank. MARTIGNETTI pleaded guilty on February 8, 2006, to twenty counts of bank embezzlement.

At the earlier plea hearing, the prosecutor told the Court that, had the case proceeded to trial, the Government's evidence would have proven that MARTIGNETTI was hired as a teller in 1998 by Eastern Bank in Lynn, Massachusetts. In February 2001, MARTIGNETTI was transferred to the Human Resources Department, where his responsibilities included tasks associated with payroll. Throughout the relevant portions of his employment, MARTIGNETTI maintained a personal checking account at Eastern Bank. From June 12, 2002, through March 23, 2005, MARTIGNETTI made approximately 168 manual entries debiting Eastern Bank's payroll expense and other accounts and then deposited the offsetting credit to his own personal checking account, with the deposits to his personal account totaling approximately $263,678.

The case was investigated by Special Agents of the Federal Bureau of Investigation. It is was prosecuted by Assistant U.S. Attorney Mark J. Balthazard in Sullivan's Economic Crimes Unit.

Source: prnewswire

All trademarks and copyrighted information contained herein are the property of their respective owners.