(WTNH) — An East Lyme man will serve 18 months in prison on charges he stole more than $100,000 from customers at the bank in which he was employed.
33-year-old Alexander Alvarez pleaded guilty to one count of bank fraud last April, after prosecutors say he stole the money while working at a Newington bank.
Alvarez was found to be identifying accounts that had little banking activity and changed the mailing addresses on those accounts. He would then create fraudulent transfer slips causing the funds to be transferred to another account that he believed was dormant, or to an account that he directly controlled.
Once those funds were out of the owner’s accounts, Alvarez would withdraw the money and transfer it into his own personal accounts.
According to the U.S. Attorney’s Office, Alarez stole $100,806.85 from one customer and $11,137.01 from another.
He has been ordered to pay full restitution, plus interest to that bank.