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Banker Stole From Company To Feed Gambling Habit

A banker in Connecticut has plead guilty to stealing funds from his bank to feed his online gambling habit.

The banker, Shawn Reilly, was fired in April after it was discovered that he had stolen $673,00 in company funds. The money was stolen from a period of November 2007 and January of 2010.

The government's charges of fraud against Reilly claim that he was responsible for 84 fraudulent wire transfers. "This fraud was accomplished when Reilly caused his subordinates to unknowingly make false journal entries and fraudulent wire transfers. As noted in FINRA’s records, prosecutors alleged that some of those diverted funds were used to pay Reilly’s gambling debts." federal prosecutors claim.

Reilly's crimes were discovered in a Financial Industry Regulatory Authority investigation. Reilly subsequently plead guilty to one count of bank fraud and will serve 33 months in prison as well as 3 years of supervised release. He will also be forced to repay the bank $673,447.47 in restitution.

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