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Thursday, October 26, 2006

Two years in jail for ex-bank manager

A former branch manager at Hudson Savings Bank has been sentenced to two years in federal prison and ordered to pay back the $653,297.72 he embezzled from the bank over a five-year period.

Milton J. Pereira, 38, was also sentenced to three years of supervised release and ordered to pay a $200 fine by Judge Rya W. Zobel in US District Court in Boston today, according to the office of US Attorney Michael J. Sullivan.

Pereira, a Shrewsbury resident, pleaded guilty in August to two counts of embezzlement for taking $8,000 from a customerís account in February 2002 and $12,000 from another customerís account in May 2005.

While Pereira only pleaded guilty to those two counts, prosecutors said there was evidence Pereira stole more than $650,000 from over 60 customer accounts from 2000 to 2005 to cover his gambling habits, credit card bills and mortgage. He was fired from the bank in August 2005.

- Jennifer Rosinski

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