Man pleads guilty to $2m ATM scam

Man pleads guilty to $2m ATM scam

An ATM network operator employee has admitted stealing around $2 million from the bank he was looking after machines for.

Mirza Baig's company, New England Cash Dispensing System (Necds), entered into an ATM services agreement with Domestic Bank in 2000.

Under the deal, a network of Domestic Bank ATMs in shops and gas stations throughout northeastern states was established, with Necds carrying out installation and maintenance.

The responsibility for providing cash for machines was split, with merchants, Necds and Domestic each covering certain ATMs.

In pleading guilty, Baig has admitted that he and other Necds staff members ordered excess cash from Domestic and used it to fill ATMs Necds should have been responsible for filling.

Over several years, the bank was defrauded of around $4.8 million says the FBI, with Baig personally stealing $2 million, which he used for "his own personal enrichment".

He faces up to 30 years in prison and has agreed to pay a money judgement of $1 million before his sentencing in March.

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