Thursday, January 22, 2009

Florida Ex-Bank Manager Accused Of Bilking $11 Million From Customer Accounts

Ricardo Figueredo, of Miami Beach, Florida and a former manager at Bank of America, NationsBank and Barnett Bank, has been accused in an Information filed today by federal authorities of misappropriating at least $11 million from client accounts. Figueredo's scheme dates back to the mid 1990's and continued through 2008, according to authorities. The complaint charges that Figueredo, who was an assistant vice president at BofA, handled foreign clients who held accounts in the United States. He is alleged to have used the stolen funds to make investments in Guatemala and Spain and "to support his lavish lifestyle.'' He faces up to 30 years in prison if convicted, plus fines and restitution. Figueredo was originally employed by Barnett Bank, which was later acquired by NationsBank and subsequently acquired by BofA.

Read the story here and here.

Read the DOJ's announcement here.

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