James Glover, 54, of West Harrison, New York, has pleaded guilty to charges he embezzled $624,885 from RBS Securities in Hartford, Connecticut, where he had been employed as "director of middle and back office support." According to authorities, Glover created a phony vendor called CPS Funding that was similar to a legitimate one. Over a period of about one year, from January 2009 until January 2010, Glover caused 9 fraudulent funds transfers from RBS to the phony vendor to occur. He faces up to 10 years in prison, plus fines and restitution.
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