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Bank Officer Sentenced in Embezzlement

The Valley | IN BRIEF / LOS ANGELES

July 09, 2002|From Times Staff Reports

A former United California Bank officer was sentenced Monday to 27 months in prison for embezzling $2.1 million from the bank's customers. U.S. District Judge Dickran Tevrizian also ordered Gary Wei Wu, 21, to pay $1.1 million in restitution.

Wu, free on $200,000 bond, pleaded guilty to three counts of embezzlement. Prosecutors said he took the money through unauthorized advances and transfers from credit line accounts and unauthorized withdrawals from commercial accounts belonging to at least seven customers, prosecutors said.

The bank recovered some of the money, but lost about $1.1 million, officials said.

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