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Saugus man pleads guilty to embezzling $180,000 from bank accounts

LEGAL NEWSLINE

Friday, April 4, 2025

Saugus man pleads guilty to embezzling $180,000 from bank accounts

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Leah B. Foley United States Attorney for the District of Massachusetts | U.S. Attorney for the District of Massachusetts

A Saugus man, Derek Aut, has admitted guilt in a federal court in Boston for embezzling over $180,000 from a bank where he was employed as a teller. The plea was entered yesterday, and U.S. Senior District Court Judge William G. Young has set June 16, 2025, as the sentencing date. Aut was initially charged in December 2024.

Court documents allege that Aut covertly stole from two customers' accounts by forging their signatures on withdrawal slips. After the first customer discovered money missing, Aut reportedly moved funds from another account to cover the shortfall. His actions resulted in a total theft exceeding $180,000.

The embezzlement charge carries a potential penalty of 30 years imprisonment, five years of supervised release, and a $1 million fine. The aggravated identity theft charge mandates an additional two years in prison, to be served consecutively. Sentences are determined by the federal district court, guided by the U.S. Sentencing Guidelines.

The announcement was jointly made by United States Attorney Leah B. Foley and Michael J. Krol, Special Agent in Charge of Homeland Security Investigations in New England. The case is prosecuted by Assistant U.S. Attorney Kristen A. Kearney of the Securities, Financial & Cyber Fraud Unit.

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