A former Merrill Lynch advisor and private banker was sentenced this morning to one day in jail, six months of home confinement and three years of federal probation for embezzling more than $118,000 from the bank accounts of Bank of America customers. She was also ordered to complete 200 hours of community service.
Tammy Peterson conducted a series of unauthorized wire transfers, moving money from multiple customers' bank accounts into accounts belonging to her father and other relatives, while working for Merrill Lynch in Newport News, Va. Two of the six wire transfers were for $48,689, with the others being either for $5,000 or $5,523. The transfers occurred from January to June 2014, according to court documents.
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