Bank Officer Sentenced in Embezzlement
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.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
