BANK EXECUTIVE SENTENCED TO 33 MONTHS
STEALING MORE THAN $650K FROM EMPLOYER
David B. Fein, United States Attorney for the District of Connecticut, announced that SHAWN REILLY, 34, of Congers, N.Y., was sentenced today by Senior United States District Judge Warren W. Eginton in Bridgeport to 33 months of imprisonment, followed by three years of supervised release, for stealing more than $673,000 from UBS, his employer.
According to court documents and statements made in court, from 1999 to April 2011, REILLY was employed at UBS in various positions. Most recently, REILLY worked at the Stamford office of UBS Securities, LLC, a wholly owned subsidiary of the parent company. From November 2007 through January 2010, REILLY held the position of director within the settlements group and, as such, was responsible for overseeing various activities, including managing and maintaining suspense accounts and making sure that accurate payments were made to and by UBS on a daily basis.
From approximately February 2009 to April 2011, REILLY was responsible for approximately 84 fraudulent wire transfers that caused more than $673,000 of company funds to be transferred to his own personal accounts for his own benefit, including the payment of gambling expenses. REILLY used his position as a director in the settlements group to cause subordinates to make false journal entries and fraudulent wire transfers without them knowing that the entries were false and that the transfers were going to REILLY’s personal accounts.
Today, REILLY was ordered to pay restitution in the amount of $673,447.47.
On September 6, 2011, REILLY waived his right to indictment and pleaded guilty to one count of bank fraud.
This matter was investigated by the Federal Bureau of Investigation and was prosecuted by Assistant United States Attorney Robert M. Spector.
Citizens are encouraged to report any financial fraud schemes by calling, toll free, 855-236-9740, or by sending an email to firstname.lastname@example.org.
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