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Bank Vice President Pleads Guilty to $240,000 Theft
PORTLAND, Maine – Jeffrey Burnham, a 41-year-old former Vice President with TD Bank, has pleaded guilty to theft by a bank officer.
According to court records, Burnham stole approximately $240,000 from the bank between February 2011 and February 2012. The money was embezzled using his corporate credit card to pay for personal expenses, primarily at gentlemen’s clubs in Maine, Massachusetts, New York, and Florida.
Burnham submitted false expense reports and other false information to make it appear as though the bank was paying for legitimate business expenses. He also gave TD Bank gift cards, intended for clients, to employees of the gentlemen’s clubs.
The investigation was conducted by the Federal Bureau of Investigation, and Burnham faces up to 30 years in prison and a $1,000,000 fine. He will be sentenced after completion of a pre-sentence investigation report by the United States Probation Office.
Assistant United States Attorney Craig M. Wolff is handling the case. He can be reached at (207) 780-3257 for further information.
Burnham’s actions are a betrayal of the trust placed in him as a bank officer. His guilty plea is a step in the right direction towards holding him accountable for his crimes.
The U.S. Attorney’s Office will continue to work tirelessly to ensure that those who commit financial crimes are brought to justice.
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Key Facts
- State: Maine
- Category: Financial Crimes
- Source: DOJ Press Release ↗
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