Crime

Former bank teller from Saugus stole more than $180K from TD Bank customers, prosecutors say

Investigators say Derek Aut embezzled the money from two TD Bank customers between September 2023 and April 2024.

December 21, 2024

1 minute to read

A Saugus man is facing federal charges for allegedly stealing more than $180,000 from customers of a TD Bank in Boston, where he worked as a teller.

Derek Aut, 28, was arrested Wednesday and appeared in a Boston federal court where he was charged with embezzlement by a bank employee, according to U.S. Attorney Joshua S. Levy’s office.

Prosecutors say Aut stole from the bank accounts of two TD Bank customers. When one of the victims noticed money missing from her account, Aut allegedly tried to cover it up by depositing money from the other victim’s account.

Aut allegedly withdrew a total of $183,677 between September 2023 and April 2024, according to a Boston Globe report citing a Department of Homeland Security affidavit.

In the affidavit, investigators say that Aut used his Employee Identification Number (EIN) to make 46 withdrawals totaling $156,000 from the account of a 52-year-old woman he had assisted.

Then, he allegedly stole $10,700 from the second victim, a 99-year-old Boston woman. Once the theft was discovered, investigators say Aut tried to conceal it by using funds from the first victim to replenish the second victim’s funds.

When confronted by officials at TD Bank, Aut allegedly confessed to the thefts and said he needed the money to pay off a debt. TD Bank told the Globe that Aut was fired on April 8 due to their findings.

“We notified law enforcement and cooperated fully with their investigation,” the bank said in a statement.

Investigators said that Aut visited the Encore casino 31 times during the months the thefts took place and spent more than $100,000 there.

“Based on Aut’s casino activity, there is probable cause to believe that Aut was using cash stolen from Victim 1 and Victim 2′s accounts to pay for some or all of his gambling activity at the Casino,” the affidavit said.

Aut was released on conditions following his court appearance. If convicted, he faces up to 30 years in prison, five years of supervised release, and a $1 million fine.