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WALTHAM MAN INDICTED FOR BANK FRAUD

 BOSTON, Nov. 19 /PRNewswire/ -- A Waltham man has been indicted for bank fraud, aiding and abetting the willful misapplication of bank funds, receiving a loan with intent to defraud a bank, and structuring transactions to evade the currency reporting requirement.
 United States Attorney Donald K. Stern announced today that Joseph W. Connors, 40, 115 Lakeview, Waltham, Mass. was indicted in an eleven-count indictment returned yesterday by a federal grand jury and unsealed this morning following his arrest. The indictment charges that, during the period from August, 1989 to December, 1990, Connors participated in a scheme to defraud the Bank of Boston (the "Bank") with Paula DeWolf ("DeWolf"), a former employee of the Bank, aided and abetted DeWolf in the misapplication of Bank funds and received loans with intent to defraud the Bank. The amount of money involved in each of these three counts was $413,330. Paula DeWolf pled guilty to willful misapplication of Bank funds in 1992. The indictment also charges Connors with eight counts of structuring transactions to avoid the currency reporting requirement.
 Connors faces a maximum penalty of 30 years in prison and a $1 million fine on each of the first three counts of the indictment and a maximum penalty of 10 years in prison and a $500,000 fine on each of the eight structuring counts.
 The case was investigated by special agents of the Federal Bureau of Investigation and will be prosecuted by Alexandra Leake, a member of the Public Corruption Unit in Stern's office.
 -0- 11/19/93
 /CONTACT: Press Officer of the U.S. Attorney's Office, 617-223-9445/


CO: U.S. Attorney's Office ST: Massachusetts IN: SU:

CM -- NE011 -- 6538 11/19/93 17:26 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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