Former Boston Bank Branch Manager Sentenced for Bank Fraud Scheme
For Immediate Release
U.S. Attorney's Office, District of Massachusetts
BOSTON – The former branch manager for a Boston bank was sentenced today for stealing over $100,000 in funds from customer bank accounts.
Nathan Wadsworth, 32, of Syracuse, N.Y., was sentenced by U.S. District Judge Leo T. Sorokin to 25 months in prison and three years of supervised release. Wadsworth was also ordered to pay restitution and forfeiture in the amount of $121,000. In June 2023, Wadsworth pleaded guilty to one count of bank fraud.
From June 2020 through November 2021, Wadsworth was employed as a branch manager for PNC Bank in Boston. Beginning in or around March 2021, Wadsworth used his position to identify dormant accounts of foreign account holders, transferred the funds in those dormant accounts to a new account he opened in the customers’ names and then moved the funds to his own accounts for personal use. In total, Wadsworth stole approximately $121,000 in customer funds. All the funds have since been repaid by PNC to the affected customers.
Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. PNC Bank cooperated with the government’s investigation. Assistant U.S. Attorney Victor A. Wild of the Securities, Financial & Cyber Fraud Unit prosecuted the case.
Updated September 29, 2023