Today, a former branch manager for a bank in Boston was given a term for stealing more than $100,000 worth of money from the bank accounts of customers.
Nathan Wadsworth, who is 32 years old and from Syracuse, New York, was given a sentence of 25 months in prison and three years of supervised release by United States District Judge Leo T. Sorokin. Wadsworth was given the additional punishment of having to make restitution and forfeiture payments of $121,000. Wadsworth entered a guilty plea to a single count of bank fraud in June of 2023.
Wadsworth worked for PNC Bank in Boston as a branch manager beginning in June 2020 and continuing through November 2021. He held this position for the full two years. Beginning in or around March 2021, Wadsworth utilised his position to find dormant accounts of foreign account holders, transferred the funds in those dormant accounts to a new account he formed in the customers’ names, and then moved the cash to his own accounts for personal use. All of this activity took place after Wadsworth used his position to identify dormant accounts of international account holders. Wadsworth was responsible for the theft of around $121,000 worth of consumer cash in total. PNC has since made good on its promise to return the full amount of money to all of the affected clients.
Today’s statement was made by Joshua S. Levy, who is serving as the acting United States Attorney, and Jodi Cohen, who is serving as the Special Agent in Charge of the Federal Bureau of Investigation’s Boston Division. PNC Bank was cooperative with the investigation that was being conducted by the authorities. The prosecution of the case was handled by Assistant United States Attorney Victor A. Wild of the Securities, Financial, and Cyber Fraud Unit.
