A Saugus man has been arrested and charged with embezzling funds from TD Bank while employed as a teller. Derek Aut, 28, faces charges of embezzlement by a bank employee following his arrest. He was released on conditions after an initial appearance in federal court in Boston.
Charging documents allege that Aut stole money from the accounts of two TD Bank customers. When one victim noticed missing funds, Aut allegedly attempted to conceal the theft by transferring money from another victim's account into the first victim's account. The total amount allegedly taken exceeds $180,000.
The charge carries a potential sentence of up to 30 years in prison, five years of supervised release, and a $1 million fine. Sentences are determined by a federal district court judge based on U.S. Sentencing Guidelines and other statutory factors.
United States Attorney Joshua S. Levy and Michael J. Krol, Special Agent in Charge of Homeland Security Investigations in New England, announced the arrest. Assistant U.S. Attorney Kristen A. Kearney of the Securities, Financial & Cyber Fraud Unit is handling the prosecution.
"The details contained in the charging documents are allegations," stated officials. "The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law."