⏱ 2 min read
Jefry Castro, a 34-year-old bank manager from Lawrence, Massachusetts, has been sentenced to prison for embezzling hundreds of thousands of dollars from a Citizens Bank branch in Tewksbury. Between May 2024 and August 2025, Castro stole $374,233 from the bank, primarily by taking cash from ATMs and covering his tracks by falsifying balance sheets. Castro’s scheme was eventually uncovered, and he pleaded guilty to one count of embezzlement by a bank employee in April 2026.
Castro’s embezzlement scheme was sophisticated, involving the manipulation of cash deposits and shipments to replace the stolen money. He also altered the bank’s balance sheets to conceal the true amount of cash on hand. The FBI investigated the case, and Castro was prosecuted by the US Attorney’s Office.
On the day of sentencing, US Senior District Judge Patti B. Saris handed down a sentence of one year and one day in prison, followed by five years of supervised release. Castro was also ordered to pay $375,233 in restitution to Citizens Bank. The sentence reflects the seriousness of Castro’s crimes and the significant amount of money he stole from his employer.
The case was announced by United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division. Assistant US Attorney Timothy E. Moran prosecuted the case as part of the Securities, Financial & Cyber Fraud Unit.
📋 Key Facts
- Crime: White Collar Crime
- Defendant: Massachusetts
- Location: MA
- Source: DOJ Press Release
