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April 15, 2010

FORMER BANKER PLEADS GUILTY TO WIRE FRAUD

(HOUSTON) - Cesar Madrigal, a former personal banker for Wachovia Bank, has pleaded guilty to committing theft of funds from a bank, United States Attorney José Angel Moreno announced today. Madrigal, 30, was employed at the Wachovia Bank branch located on the 6800 block of Spencer Highway in Pasadena, Texas.

According to the plea agreement, Madrigal stole more than $112,000 from various accounts belonging to customers of Wachovia Bank. When confronted by bank personnel, Madrigal admitted he took money on several occasions between 2006 and 2009, sometimes in excess of $10,000, to cover his gambling debts.

U.S. District Judge Gray Miller, who accepted madrigal’s plea today, has  scheduled sentencing for Aug. 27, 2010. Madrigal faces a possible sentence of up to 10 years in prison to be followed by three years of supervised release, a fine of up to $250,000 in addition to making full restitution to the bank.

The matter was investigated by the United States Secret Service and was prosecuted by Assistant U.S. Attorney Jim Buchanan.

 

 

 

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