State Police arrest East Providence man on bank embezzlement charges
NORTH SCITUATE — The State Police Financial Crimes Unit announced Wednesday afternoon, June 11, the arrest of an East Providence man for the alleged embezzlement of $70,063.23 from branches of the Bank Rhode Island in the city as well as Pawtucket.
Victor N. Silva, 34, of 12 Alma St., was arrested and charged with Embezzlement by a Bank Officer or Employee over $1,500 and Forgery.
The investigation by the Financial Crimes Unit began after the Bank Rhode Island Security Department reported that Mr. Silva conducted several unauthorized withdrawals from three customer accounts. At the time of the withdrawals, Mr. Silva was the Branch Manager of the Bank Rhode Island branch on Taunton Avenue and also filled in as the Manager at the Smithfield Avenue branch, Pawtucket.
The allegation against Mr. Silva is that he forged withdrawal slips to make unauthorized withdrawals on the customers’ accounts and used the funds to pay his mortgage and other personal expenses. The alleged transactions, fourteen in total, took place from May 2013 through November 2013.
Mr. Silva was arraigned at the Sixth Division District Court before The Honorable Associate Judge Christine S. Jabour on the above-stated charges and was released on $10,000 personal recognizance. He is scheduled to appear in Sixth Division District Court on August 14 for a pre-arraignment conference.
The penalty for a person convicted of felony embezzlement by a bank officer or employee over $1,500 is a fine of not more than $20,000 or imprisonment for not more than 20 years, or both. The penalty for a person convicted of felony forgery is a fine of not more than $1,000 or imprisonment for not more than 10 years, or both.