Latest news with #Aut
The Hindu
18-05-2025
- Sport
- The Hindu
Manav and Manika win; Ankur loses
Manav Thakkar and Manika Batra scripted wins in the men's and women's singles first round of the World table tennis championships in Doha on Sunday. Manav, India's top-ranked male paddler, outlasted New Zealand's Timothy Choi 11-3, 11-8, 6-11, 11-7, 14-12. Manika beat Fatimo Bello of Nigeria 11-5, 11-6, 11-8, 11-2 to progress to the second round. The results (first round): Men: Singles: Manav Thakkar bt Timothy Choi (Nzl) 11-3, 11-8, 6-11, 11-7, 14-12; Lam Siu Hang (Hkg) bt Ankur Bhattacharjee 4-11, 11-7, 11-9, 12-10, 11-8; Doubles: Maciej Kolodziejczyk (Aut) & Vladislav Ursu (Mda) bt Harmeet Desai & G. Sathiyan 11-9, 10-12, 16-14, 12-10. Women: Singles: Manika Batra bt Fatimo Bello (Ngr) 11-5, 11-6, 11-8, 11-2. Mixed doubles: Manush Shah & Diya Chitale bt Mehdi Bouloussa & Malissa Nasri (Alg) 11-2, 11-7, 11-6; Thibault Poret & Leana Hochart (Fra) bt Harmeet Desai & Yasashwini Ghorpade 8-11, 6-11, 12-10, 11-8, 12-10.
Yahoo
29-03-2025
- Business
- Yahoo
Boston bank teller embezzled $180,000. What did he spend it on?
A former Massachusetts bank employee pleaded guilty to stealing over $180,000 from the financial institution, federal officials announced Thursday, exploiting a rare vulnerability in the airtight world of bank security. Derek Aut - a former sandwich maker at a beloved sub shop in Revere - pleaded guilty in federal court to embezzling funds while working as a teller at a bank in Boston, the U.S. Attorney's Office said. His theft involved forging bank customers' signatures on withdrawal slips and moving money between accounts to cover his tracks, according to prosecutors. The victims were an executive who lived in Asia and a 99-year-old Bostonian, according to court filings. The nearly-century-old woman was the one who first reported Aut's theft. Aut spent most of the cash gambling at the harbor casino, the FBI said. 'Banks are entrusted to safeguard their customers' hard-earned savings, and bank tellers hold a unique position of trust in handling those funds,' Leah B. Foley, the U.S. Attorney for the District of Massachusetts, told USA TODAY. 'This defendant exploited that trust, deliberately targeting victims he believed wouldn't notice the missing money and manipulating their accounts to cover his tracks. Crimes like this erode public confidence and underscore the need for vigilance.' The theft comes as stealing money from banks becomes increasingly difficult. Bank robbery has become such a risky, low-yield crime that the FBI is recording fewer holdups than ever before. And internal bank protections have made thefts by employees exceedingly rare, according to experts. But - while today's John Dillinger may have moved on to other forms of crime - Aut's theft shows some vulnerabilities remain within financial institutions that can be exploited for a substantial payday. 'It's remarkable really, it's got to say something about internal controls at the financial institution,' Robert McCrie, an expert in bank theft and professor at John Jay College of Criminal Justice, told USA TODAY. 'This case is going to get the attention of not only a lot of bankers but people who deal with liquid assets . . . it's going to force them to rethink the internal controls they have.' McCrie noted how long Aut operated his scheme - from September 2023 to April 2024, according to court filings - at the Boston TD Bank branch undetected. 'It gives one pause how such a crime was able to occur over such a long period of time,' he said. 'Usually the dishonest teller is discovered quickly and terminated.' When asked to comment, a TD Bank spokesperson said: "The employee was terminated on April 8, 2024, based on our findings and prior to his arrest. We notified law enforcement and cooperated fully with their investigation." Aut pleaded guilty to charges of embezzlement by a bank employee and aggravated identity theft. The 28-year-old faces up to 30 years in federal prison. U.S. Senior District Court Judge William G. Young scheduled sentencing for June 16, 2025. An attorney for Aut declined to comment. The FBI said Aut became a frequent gambler when he began stealing money, spending around $100,000 at the Encore Boston Harbor Casino. Stick-up at the cellphone store: USA's new heists go after iPhones and not bank vaults. Aut's stint at the Boston TD Bank branch began in June 2022, according to his LinkedIn. It was the latest stop in a string of jobs, where he did everything from making sandwiches at Dimino's Subs in Revere to working as a dispatcher at a logistics company. He began stealing from bank customers a little over a year later in September 2023 when he began making frequent trips to the Encore Boston Harbor Casino, according to the FBI. Aut made 31 trips to the Encore Boston Harbor Casino over the course of the seven-month scheme. He spent over $100,000 in cash to play and lost some $32,000, according to the FBI. Aut stole from just two bank customers but took over $180,000 from them altogether, court filings show. The first victim - a 52-year-old pharmaceutical executive living in Singapore - maintained multiple accounts at the bank branch, including a trust for her children and a Certificate of Deposit account she opened at Aut's recommendation. Bank records show Aut made 46 withdrawals from her account totaling $156,000, which also resulted in nearly $17,000 in penalties for withdrawing from restricted accounts. Aut completed the withdrawals by forging her signature, according to a federal indictment. The second victim was a 99-year-old Bostonian. Aut stole nearly $11,000 from her account over four withdrawals, according to court filings. He replaced nearly $6,000 with money from the executive's account after the nearly-century-old woman reported at the TD Bank branch on Winter Place near Boston Common, court filings say. Aut told investigators that he used money from her account to cover a debt he had to pay 'because his family was being threatened' Promises of gold mines: Ex-NFL player gets prison for running Ponzi scheme The amount of cash Aut managed to steal is a rarity nowadays. 'It's a stunning amount,' said McCrie, a professor of security management. 'Half of that would be a stunning amount.' Stealing from banks has become a very difficult crime to commit in recent decades as laws like the Bank Protection Act of 1968 have mandated safety measures at institutions nationwide. Bank robberies have fallen to record lows since then and the average payout has dropped to about just $4,000, according to FBI statistics. Federal agents registered 1,263 bank robberies in 2023. That's an 80% decrease from 2003 when there were 7,465 robberies. Financial institutions also have measures to keep employees from stealing. Many banks vet candidates with drug tests and background checks to ensure they don't have criminal records, according to McCrie. And high-resolution cameras inside banks allow authorities to see who made a withdrawal. But a key slip-up in the Boston case was that Aut was able to make withdrawals without another bank employee verifying the deposit slips, according to McCrie. 'It's really one of the most dangerous things an organization can do— have someone approve and then pay an amount without a third party looking at a transaction,' McCrie said. 'It's one of the fundamental ways to prevent losses from internal sources.' More: Charlatan borrowed priceless violins. But he was just stringing owners along. Michael Loria is a national reporter on the USA TODAY breaking news desk. Contact him at mloria@ @mchael_mchael or on Signal at (202) 290-4585. This article originally appeared on USA TODAY: Boston bank teller stole $180K. How can that happen today?
USA Today
29-03-2025
- USA Today
Boston bank teller embezzled $180,000. What did he spend it on?
Boston bank teller embezzled $180,000. What did he spend it on? A bank teller pleaded guilty in federal court to taking over $180,000 from a TD Bank branch in Boston. He faces up to 30 years in prison. The former sandwich maker blew most of the money gambling. Show Caption Hide Caption Bodycam video shows Canton police stop an armed robbery, make arrest Canton Police investigate bank robbery on Oct. 17, 2024, at Chase Bank at 1401 30th St. NW, where the suspect was arrested. There were no injuries. Provided by Canton Police Department A former Massachusetts bank employee pleaded guilty to stealing over $180,000 from the financial institution, federal officials announced Thursday, exploiting a rare vulnerability in the airtight world of bank security. Derek Aut - a former sandwich maker at a beloved sub shop in Revere - pleaded guilty in federal court to embezzling funds while working as a teller at a bank in Boston, the U.S. Attorney's Office said. His theft involved forging bank customers' signatures on withdrawal slips and moving money between accounts to cover his tracks, according to prosecutors. The victims were an executive who lived in Asia and a 99-year-old Bostonian, according to court filings. The nearly-century-old woman was the one who first reported Aut's theft. Aut spent most of the cash gambling at the harbor casino, the FBI said. 'Banks are entrusted to safeguard their customers' hard-earned savings, and bank tellers hold a unique position of trust in handling those funds,' Leah B. Foley, the U.S. Attorney for the District of Massachusetts, told USA TODAY. 'This defendant exploited that trust, deliberately targeting victims he believed wouldn't notice the missing money and manipulating their accounts to cover his tracks. Crimes like this erode public confidence and underscore the need for vigilance.' The theft comes as stealing money from banks becomes increasingly difficult. Bank robbery has become such a risky, low-yield crime that the FBI is recording fewer holdups than ever before. And internal bank protections have made thefts by employees exceedingly rare, according to experts. But - while today's John Dillinger may have moved on to other forms of crime - Aut's theft shows some vulnerabilities remain within financial institutions that can be exploited for a substantial payday. 'It's remarkable really, it's got to say something about internal controls at the financial institution,' Robert McCrie, an expert in bank theft and professor at John Jay College of Criminal Justice, told USA TODAY. 'This case is going to get the attention of not only a lot of bankers but people who deal with liquid assets . . . it's going to force them to rethink the internal controls they have.' McCrie noted how long Aut operated his scheme - from September 2023 to April 2024, according to court filings - at the Boston TD Bank branch undetected. 'It gives one pause how such a crime was able to occur over such a long period of time,' he said. 'Usually the dishonest teller is discovered quickly and terminated.' When asked to comment, a TD Bank spokesperson said: "The employee was terminated on April 8, 2024, based on our findings and prior to his arrest. We notified law enforcement and cooperated fully with their investigation." Aut pleaded guilty to charges of embezzlement by a bank employee and aggravated identity theft. The 28-year-old faces up to 30 years in federal prison. U.S. Senior District Court Judge William G. Young scheduled sentencing for June 16, 2025. An attorney for Aut declined to comment. The FBI said Aut became a frequent gambler when he began stealing money, spending around $100,000 at the Encore Boston Harbor Casino. Stick-up at the cellphone store: USA's new heists go after iPhones and not bank vaults. How he took the money Aut's stint at the Boston TD Bank branch began in June 2022, according to his LinkedIn. It was the latest stop in a string of jobs, where he did everything from making sandwiches at Dimino's Subs in Revere to working as a dispatcher at a logistics company. He began stealing from bank customers a little over a year later in September 2023 when he began making frequent trips to the Encore Boston Harbor Casino, according to the FBI. Aut made 31 trips to the Encore Boston Harbor Casino over the course of the seven-month scheme. He spent over $100,000 in cash to play and lost some $32,000, according to the FBI. Aut stole from just two bank customers but took over $180,000 from them altogether, court filings show. The first victim - a 52-year-old pharmaceutical executive living in Singapore - maintained multiple accounts at the bank branch, including a trust for her children and a Certificate of Deposit account she opened at Aut's recommendation. Bank records show Aut made 46 withdrawals from her account totaling $156,000, which also resulted in nearly $17,000 in penalties for withdrawing from restricted accounts. Aut completed the withdrawals by forging her signature, according to a federal indictment. The second victim was a 99-year-old Bostonian. Aut stole nearly $11,000 from her account over four withdrawals, according to court filings. He replaced nearly $6,000 with money from the executive's account after the nearly-century-old woman reported at the TD Bank branch on Winter Place near Boston Common, court filings say. Aut told investigators that he used money from her account to cover a debt he had to pay 'because his family was being threatened' Promises of gold mines: Ex-NFL player gets prison for running Ponzi scheme What was the bank's fatal flaw? The amount of cash Aut managed to steal is a rarity nowadays. 'It's a stunning amount,' said McCrie, a professor of security management. 'Half of that would be a stunning amount.' Stealing from banks has become a very difficult crime to commit in recent decades as laws like the Bank Protection Act of 1968 have mandated safety measures at institutions nationwide. Bank robberies have fallen to record lows since then and the average payout has dropped to about just $4,000, according to FBI statistics. Federal agents registered 1,263 bank robberies in 2023. That's an 80% decrease from 2003 when there were 7,465 robberies. Financial institutions also have measures to keep employees from stealing. Many banks vet candidates with drug tests and background checks to ensure they don't have criminal records, according to McCrie. And high-resolution cameras inside banks allow authorities to see who made a withdrawal. But a key slip-up in the Boston case was that Aut was able to make withdrawals without another bank employee verifying the deposit slips, according to McCrie. 'It's really one of the most dangerous things an organization can do— have someone approve and then pay an amount without a third party looking at a transaction,' McCrie said. 'It's one of the fundamental ways to prevent losses from internal sources.' More: Charlatan borrowed priceless violins. But he was just stringing owners along. Michael Loria is a national reporter on the USA TODAY breaking news desk. Contact him at mloria@ @mchael_mchael or on Signal at (202) 290-4585.
Yahoo
27-03-2025
- Yahoo
Former Boston bank teller pleads guilty to stealing more than $180,000 from 2 customer accounts
A former bank teller has pleaded has pleaded guilty to embezzling more than $180,000 from two customer accounts while working at a Boston branch of a national bank, the U.S. Attorney said Thursday. Derek Aut, 28, of Saugus, pleaded guilty in federal court on Wednesday to embezzlement by a bank employee and aggravated identity theft, U.S. Attorney Leah Foley said in a statement. U.S. Senior District Court Judge William Young scheduled sentencing for June 16. Aut was previously charged by criminal complaint on Dec. 18, 2024. Aut worked as a bank teller at TD Bank, and investigators said he and spent 'some or all' of the stolen money gambling at the Encore Boston Harbor in Everett, The Boston Globe reported in December. The bank fired him in April. According to the charging documents, while working as a bank teller, Aut stole from the bank accounts of two customers by forging the victims' names on withdrawal slips, among other things. Investigators said that Aut used his Employee Identification Number to tap into the account of a 52-year-old woman he had assisted and made 46 withdrawals, totaling $156,000, the Globe reported. He also used his EID number to make four withdrawals from the account of a second victim, a 99-year-old woman from Boston, totaling $10,700. When one of the victims noticed money missing from her account, Aut attempted to cover his theft by taking money from the other victim's account and depositing it into the first victim's account, Foley said. In total, Aut took more than $180,000 from the victims' accounts. According to the Globe, investigators found that Aut frequented the Encore casino over the course of eight months, making 31 visits and exchanging more than $100,000 in cash for casino play. Authorities said his total 'cash out' from the casino was $26,300 and his losses from gaming were about $32,000. For the charge of embezzlement by a bank employee, Aut faces up to 30 years in prison, five years of supervised release and a $1 million fine. For the he charge of aggravated identity theft, Aut faces a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed. This is a developing story. Check back for updates as more information becomes available. Download the FREE Boston 25 News app for breaking news alerts. Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
Yahoo
06-03-2025
- Yahoo
Former bank teller admits to embezzling over $180K from Boston bank
BOSTON (WWLP) – A Massachusetts man agreed to plead guilty to allegedly embezzling bank funds while he was working as a Boston bank teller. Springfield Police reminding residents to lock their cars The Department of Justice states 28-year-old Derek Aut of Saugus, formerly of Revere, was working as a teller at a bank branch in Boston, where he would steal from the accounts of two customers by forging their names on withdrawal slips. When one victim noticed that there was money missing from her account, Aut allegedly tried to cover this up by taking money from the other victim's account and putting it into the first victim's account. By doing this, Aut allegedly stole over $180,000 from the victims' accounts. Aut was charged by Information with embezzlement by a bank employee and aggravated identity theft. He was charged previously by criminal complaint on December 18, 2024. The charge of embezzlement by a bank employee is a sentence of up to 30 years in prison, five years of supervised release, and a $1 million fine. The charge of aggravated identity theft is a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed. WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
