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State Police Financial Crimes Unit Arrests Former Bank Rhode Island Branch Manager for Embezzlement of $70,000

Contact: Major Todd E. Catlow, Detective Commander Telephone: (401) 444-1005

Colonel Steven G. O'Donnell, Superintendent of the Rhode Island State Police and Commissioner of Public Safety, announces that members of the State Police Financial Crimes Unit arrested an East Providence man for the alleged embezzlement of $70,063.23 from the East Providence and Pawtucket branches of the Bank Rhode Island.

On June 11, 2014, Victor N. Silva, age 34, of 12 Alma Street, East Providence, RI, 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 Silva conducted several unauthorized withdrawals from three customer accounts. At the time of the withdrawals, Silva was the Branch Manager of the Bank Rhode Island branch on Taunton Avenue, East Providence and also filled in as the Manager at the Smithfield Avenue branch, Pawtucket. The allegation against 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.

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, 2014 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 twenty thousand dollars ($20,000) or imprisonment for not more than twenty (20) years, or both. The penalty for a person convicted of felony forgery is a fine of not more than one thousand dollars ($1,000) or imprisonment for not more than ten (10) years, or both

Related links

Department or agency: Rhode Island State Police

Online: http://www.risp.ri.gov

Release date: 06-11-2014

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