Wachovia Bank

Lehigh County, PA: (Mar-03-07) A lawsuit was filed by the township of Lower Macungie in April 2006 against Wachovia Bank alleging negligence in its role in the Margaret Szulborski embezzlement case. The suit claimed that the bank acted in bad faith by allowing Szulborski, a former township employee and supervisor, to deposit checks made payable to Lower Macungie, which did not have any Wachovia accounts, and withdraw the money. A settlement was reached when Wachovia Bank agreed to pay Lower Macungie $775,000. The settlement amount is said to be less than a third of the $2.53 million Szulborski was charged with stealing from the sewer fund between 1999 and 2006. [MORNING CALL: WACHOVIA EMBEZZLEMENT]

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Published on Mar-8-07