BOSTON -- A former Shawmut National Corp. senior vice president was sentenced to more than three years in prison for embezzling $2.5 million from the Hartford, Conn.-based bank over nearly four years.
Peter J. Regan was arrested in July 1991 and originally charged with 12 counts of embezzling $590,000. After further investigation, the indictment was amended to 55 counts and the total was raised to $2,568,651.40.
Mr. Regan, who was in charge of the special loan services department of Shawmut Bank, pleaded guilty to all 55 counts on Feb. 18.
