Sunday, June 5, 2011

Former Director At Securities Firm In Connecticut Pleads Guilty To Embezzling $635K

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.

Read the story here and here.

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