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update 1-u.s. says ex-bny mellon unit employee embezzled $7 mln

by:Newland     2019-10-02
(
Add fee details, comments from University of New York Mellon)
Nate Raymond, New York, February 15Reuters)-
A former employee of Bank of New York Mellon was arrested on Wednesday on suspicion of embezzling $7.
1 million. He used it to pay for gambling debts. He bought an outdoor swimming pool, a limousine and a gun safe.
Christopher Canale, who works in the Pershing LLC division of Bank of New York, recently served as accounts payable manager, was charged in a criminal lawsuit filed in the Federal Court of Manhattan.
According to a spokesman in Manhattan, the 47-year-old has been arrested in the New York City of pokepsey where he lives. S.
Lawyer Pratt Ballala
The lawyer for Canale could not be identified immediately.
Pershing, the Clearing Company division of BNY Mellon, was not named in the complaint, but BNY Mellon confirmed in a statement that Pershing was a former employer of Canale.
Canale was dismissed on September, according to court documents.
\"After Discovering Christopher Canale\'s conduct, we immediately terminated his employment and informed law enforcement of fraud against our company,\" said BNY Mellon . \".
\"We have zero tolerance for unethical or illegal behavior.
According to the complaint, Canale authorized the payment of $2 from December 2013.
53 million electricity is remitted to the company and people who have not paid in advance
Approved suppliers, including individuals who have not been named.
The complaint states that on September, an employee who conducted an audit of the supplier\'s account noted the unusual wire transfer authorized by Canale to the individual and found that he had been conducting unauthorized wire transfers for many years.
In an interview with in-
Mr. Pershing and Canale, a housing lawyer for several other employees, admitted that he had paid $2 million to $4 million in personal debt and \"saved his life because of gambling addiction \", said the complaint.
The complaint stated that he also admitted that he had remitted the funds to overseas entities and individuals in exchange for watches and jewellery, which he had used to pay back gambling debts.
The complaint states that he also admitted that he used money to pay his personal credit card bill and to purchase an outdoor sound system, two Mercedes-Benz cars, a swimming pool, a gun safe and landscaping service.
After he was fired, Pershing continued his investigation and found that a copy of the previous card was also forged.
The supervisor signed an illegal cash cheque for petty cash, resulting in $4.
According to the complaint, the loss was as high as 6 million. The case is U. S. v. Canale, U. S.
District Court, Southern District, New York17-mj-1157. (
Nate Raymond reports in New York
Edited by Bernard Orr and Leslie Adler)
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