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Former UBS banker sentenced for fraud

A former bank executive has been sentenced to 33 months in prison for committing 84 fraudulent wire transfers that deposited $673,000 of UBS Securities funds into his personal accounts. Shawn Reilly, 34, of Congers N.Y. also received three years of supervised release. In addition, Reilly, who served as settlement group director at UBS from November 2007 to January 2010, was ordered to pay back the money he stole when he tricked his team into making "false journal entries" and authorizing bogus transfers, believing they were for legitimate customers. On Sept. 6, he pleaded guilty to one count of bank fraud.

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