Bank Fraud Investigator Gets 3+ Years For Squeezing Suspects, Pocketing $1.5M In Underreported Recoveries

In Portland, Oregon, The Associated Press reports:

• A former U.S. Bank fraud investigator has been sentenced to more than three years is prison for embezzling $1.5 million he recovered from people accused of defrauding the bank. David A. Shelofsky, 39, of West Linn was the manager of the bank's asset forfeiture and recovery section when he stole the money between 2002 and 2005. He pleaded guilty in October 2006 and was sentenced Thursday by U.S. District Judge Garr King. Shelofsky went after bank customers and employees who had written bad checks or stolen the bank's money. He then negotiated with the suspects to recover assets or cash. Prosecutors said Shelofsky's scheme involved underreporting his recoveries to the bank.

For more, see Bank fraud investigator accused of stealing $1.5M.