Friday, January 23, 2009

Former Bank of America Employee Charged with Fraud

Ricardo Figuerado has surrendered to authorities early yesterday morning in connection with a multi-million dollar scheme that misappropriate funds from customer accounts, according to the U.S. attorney for the Southern District of Florida. Figuerado misappropriated more than $11 million in customer funds for personal investments in Guatemala, Spain and elsewhere, and more than $1 million in customer funds “to support his lavish lifestyle,” according to a news release. Figuerado faces up to 30 years in jail if convicted.

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