Ex-Boston Fed teller admits embezzling.

BOSTON -- A former Federal Reserve Bank of Boston employee pleaded guilty this week to embezzling $70,000 as a senior teller in 1993.

U.S. Attorney Donald K. Stern said Walter A. Bird, of Framingham, Mass., waived indictment and pleaded guilty to charges of embezzlement and theft from the Federal Reserve Bank of Boston.

Mr. Bird, who could receive up to 30 years in prison and $1 million in fines, stole the money from his payroll drawer and attempted to replace it with an equal amount of so-called "unfit" currency that had been earmarked for destruction.

Sentencing is set for Sept. 7.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER