Bank Officer Guilty of Fraud
|U.S. Attorney’s Office October 18, 2011|
The Office of the United States Attorney for the District of Vermont stated that Brian Bouchard, of Burlington, pleaded guilty to bank fraud yesterday in U.S. District Court in Rutland, Vermont. Chief Judge Christina Reiss ordered a presentence investigation and scheduled sentencing for early February, 2012.
Bouchard admitted at yesterday’s hearing that, between February, 2009 and February, 2011, while employed at the bank as a customer service manager, he arranged a series of fraudulent transfers among bank customer accounts, by transferring funds out of customer accounts and into an account controlled by him. He then used the proceeds to pay personal expenses. He also transferred funds among customer accounts in order to conceal transfers into his accounts.
The total amount of loss was about $165,796. Mr. Bouchard has repaid the loss to the bank. The offense fell under federal law because the bank is insured under the Federal Deposit Insurance Act.
The maximum possible penalty for bank fraud is 30 years in jail. The actual sentence will be imposed by Chief Judge Reiss in February, 2012. The case was investigated by the Federal Bureau of Investigation. The United States is represented by Assistant U.S. Attorney William B. Darrow. Mr. Bouchard is represented by attorney Brad Stetler, of Burlington.