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Richardo Adolfo Benavente III of Chula Vista, a former banker for Wells Fargo, was sentenced Wednesday, November 13, to 27 months in prison.

He stole $293,000 from Wells Fargo accounts and moved the money to accounts under his control. His targets were large accounts in which there was little activity; he figured the account holders weren't monitoring them. Then he moved the money to accounts in the names of fictitious customers.

Benavente also did not report his ill-gotten gains to the Internal Revenue Service.

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Comments

Visduh Nov. 15, 2013 @ 7:17 p.m.

Is this a state court sentence? Could he also be charged with tax evasion, a federal crime, and get whacked with even more time in a federal pokey? Sounds like he wasn't ever a smart banker. He might have known that that sort of thing would be detected, which it was.

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Don Bauder Nov. 15, 2013 @ 8:24 p.m.

Visduh: This is federal. Tax fraud was one of the charges against him. He's only 27 years old -- one reason he thought he might have gotten away with it. Best, Don Bauder

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Visduh Nov. 16, 2013 @ 9:02 a.m.

Twenty-seven months is prison seems rather lenient in light of the crime committed. So, he'll still be shy of thirty when he gets out. Generally unemployable for life, I'd suppose, in anything requiring a background check or trust. Landscape maintenance, here he comes!

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Don Bauder Nov. 16, 2013 @ 7:21 p.m.

Visduh: Yes, I believe he will find it difficult to find a job that requires a background check. Best, Don Bauder

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Ken Harrison Nov. 21, 2013 @ 10:04 a.m.

Wells Fargo has a lot of internal theft such as this. I was the victim of an inside job, three days after opening a WF business line of credit, the loan amount was wiped out with a visit to four Home Depots in L.A. over one weekend. And the credit card was in my possession the whole time. The local PD said it had to be an inside WF job.

And I still don't know how, just last year, someone charged two one-way tickets to Jamaica on my WF card. Glad they caught this story's perp.

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Don Bauder Nov. 21, 2013 @ 3:23 p.m.

Ken Harrison: After the Home Depot caper, did Wells Fargo make it good for you? Best, Don Bauder

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