JACKSONVILLE, Fla. – A Jacksonville banker accused of embezzling $10.5 million pleaded guilty in federal court Wednesday.
Christopher Boston, 40, worked at the Fifth Third Bank on San Jose Boulevard in Mandarin for several years, and prosecutors said he spent the last four years stealing millions of dollars from the bank and his clients.
Boston was calm in court, well-spoken and polite, and he admitted to the judge that he's guilty of ripping off his former employer, pleading guilty to felony bank fraud.
Prosecutors said since 2009, Boston stole $10,542,374. They said he started by embezzling a large corporate client out of more than $2 million and then ripped off about $8.3 million from two private customers.
In court Wednesday, the bank vice president acknowledged that was what happened, saying Boston used more than $200,000 for his personal things, such as making mortgage payments on his Mandarin home and building a backyard pool.
Government officials also said Boston used some of the money he stole to pay off other customers' troubled accounts and get them approved for things for loans they normally couldn't get.
Under his plea agreement, Boston acknowledged that he faces up to 30 years in prison, a $1 million fine and forced to pay up to $4.5 million in restitution.
Fifth Third Bank was able to recover a lot of the money and is insured, but officials still said they'll never get back close to $2.5 million.
Boston and his attorney, Harry Shorstein, had no comment as they left court.
Boston has a 2-year-old son and just went through a divorce with his wife several months ago. His sentencing date has not yet been set.
In the meantime, Boston will not be in jail. He was given a $20,000 bond. The prosecutor told the judge he didn't feel like Boston was a danger to society and didn't think he'd try to get away. He had to give up his passport Wednesday just in case.