In Brief: Guilty Plea in Fraud at Lexington Savings

LEXINGTON, Mass. - A former employee of a bank bought by Lexington Savings Bank in 1993 has pleaded guilty to embezzling $265,000 from the bank over a four-year period in the late 1980s.

Catherine J. Foley admitted embezzling the money and falsifying the books of Suburban National Bank from March 1986 through July 1990, while she was branch manager in Woburn, Mass.

Ms. Foley was accused of removing a total of $185,000 in cash from the bank's vault over the years and taking $80,000 from a safe deposit box using a duplicate key she had made for herself. She was also charged with fudging the Lexington Savings Bank's books while a vice president of the thrift, overstating the amount of cash as of April 25, 1994, by $185,000.

Lexington bought Suburban in December 1993.

Ms. Foley faces a maximum of 70 years and a fine of $3 million. Sentencing has been scheduled for Nov. 14.

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