Former UBS Director Sentenced To 33 Months In Jail Has Plans To Get Into The Culinary Industry Post-Prison

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Remember, back in April, when a bunch of UBS employees, were escorted out of the building and told not to come back, "pending an internal review into their conduct"? At the time we knew all four worked in operations and that they "were responsible for securities movements and payments," and speculated that perhaps this was another RBS/Jim Glover-esque incident. Today, some other details have been filled in.

Reilly, 34, of Congers, N.Y., was sentenced today by Senior United States District Judge Warren W. Eginton in Bridgeport to 33 months of imprisonment, followed by three years of supervised release, for stealing more than $673,000 from UBS, his employer. According to court documents and statements made in court, from 1999 to April 2011, Reilly was employed at UBS in various positions. Most recently, Reilly worked at the Stamford office of UBS Securities, LLC, a wholly owned subsidiary of the parent company. From November 2007 through January 2010, Reilly held the position of director within the settlements group and, as such, was responsible for overseeing various activities, including managing and maintaining suspense accounts and making sure that accurate payments were made to and by UBS on a daily basis. From approximately February 2009 to April 2011, Reilly was responsible for approximately 84 fraudulent wire transfers that caused more than $673,000 of company funds to be transferred to his own personal accounts...Reilly used his position as a director in the settlements group to cause subordinates to make false journal entries and fraudulent wire transfers without them knowing that the entries were false and that the transfers were going to Reilly’s personal accounts. Today, Reilly was ordered to pay restitution in the amount of $673,447.47.

According to the sentencing memo, Reilly stole from the good people at UBS to feed a gambling addiction that often found him sports-betting on the job (by his own estimation, at the height of his problem Reilly would spend "8 hours gambling and 2 hours working") and sometimes on cruise ships.

Since pleading guilty, Reilly has completed a 33-day rehabilitation program and attends Gamblers Anonymous meetings weekly. He also says that he's committed to "making amends" for his wrongdoings, both "financial and otherwise." As for how he plans to deal with the former, being presumably unemployable in the securities industry, Reilly has stated that he "intends to pursue a culinary career [in order to] make the necessary restitution in a timely manner." The latter, however, is slightly more complicated, given that 1) the subordinates who were doing Reilly's bidding (and who were lied to when they asked Big R "for an explanation of a particular transfer") were all fired as a result and 2) That Reilly's brother was among the axed underlings. According to the sentencing memo, the two have had minimal contact since, which is somewhat understandable, given that Shawn's brother, the father of a newborn, has remained unemployed (Shawn's mother, the record states, is also upset with him).

Having said that, there is at least one person who has stuck by Reilly's side. That would be his live-in girlfriend of two years, Jamie, who, despite being among those canned by UBS as a result his scam, still sees the good in her guy. Here's the letter she wrote to the judge that presided over the case:

If she can forgive him,** maybe UBS can too? The old job back is probably out of the question but perhaps a loan to get his restaurant off the ground? The first $673,447.47 in profits are going to them anyway and if it ends up being as successful as Reilly expects, they can say they had a hand in getting Stamford's premier eatery off the ground! Seems like a win/win.

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