Banking execs won't find prison nearly as easy to scam as their ATM racket

By , Network World |  Security

Domestic Bank ultimately lost approximately $4.8 million in funds that it had supplied to NECDS. Baig, who is now serving a 51-month sentence, has admitted that he took approximately $2 million of the misappropriated cash. A portion of the stolen cash was used by NECDS to pay business expenses. The defendants have been ordered to pay $4,805,540 in restitution. In addition, Baig has been ordered to forfeit an interest in his house of up to $1.2 million, as well as two vehicles.

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Originally published on Network World |  Click here to read the original story.
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