Camden National embezzler gets prison time
A former employee of Camden National Bank will spend nearly three years in jail for embezzling $750,000 over several years.
U.S. District Court in Portland yesterday sentenced Christina Torres-York of Warren to 33 months in prison and ordered her to pay $625,013 in restitution, the Herald Gazette reported. In October 2009, the bank discovered that Torres-York, who worked there as a loan officer for 20 years, had withdrawn $749,402 from at least five customers' lines of credit. Assistant U.S. Attorney Richard Murphy, who prosecuted the case, said Torres-York diverted $95,714 for her personal use to pay for home renovations and her mortgage, and used the remainder for unauthorized loans and extensions of credit for other customers. The bank lost $714,204 and sued her in January 2010. Bank customer Maine Contractors and Builders Alliance, of which Torres-York was treasurer, lost $29,703 and also sued her last year. Torres-York in January pleaded guilty to one count of bank embezzlement and misapplication. In December, Torres-York and Kenneth York filed for Chapter 7 bankruptcy, listing debts of $1.5 million and assets of $500,000, with Camden National and the builders alliance named as creditors.
During the sentencing hearing, Camden National CEO Gregory Dufour said Torres-York "violated our core values" and "did significant damage to a community-based organization." He said the bank has spent $250,000 in legal fees and that some customers are still threatening legal action. The bank has recovered some of the money Torres-York gave or loaned to customers, he said.
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