An Everett man was sentenced to more than two years in prison and five years of supervised release after he pleaded guilty to embezzling more than $300,000 from the bank where he worked.
Kevin J. Woolley, 37, also will be required to pay restitution.
At the time of the embezzlement, Woolley worked at Bank of America as a small-business client manager.
U.S. District Court Judge Ricardo Martinez told him at sentencing that “this was an absolute abuse of trust” of his position.
According to court records, Woolley was responsible for customer relations on an account held by GRE Insurance group. GRE had been bought out some years before by Liberty Mutual. Most of the company accounts had been converted, except for one containing a substantial amount of money.
The account appeared to be dormant. Woolley used his computer at the bank to change the address associated with the account. He also prepared wire transfer agreements and forged the signature of the person who had signing privileges on the account, papers said.
Woolley had a personal identification number for the account mailed to the address he had set up before he began to transfer funds from it.
The money went to pay for his mortgage and trips, a recreation vehicle and other luxury items, papers said.
He even arranged to have some of the funds sent offshore to Antigua. Prosecutors said he stole $306,648 from the account and attempted to steal an additional $42,000 just before the crime was detected.
The FBI investigated the case.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
