A former J.P. Morgan Chase (jpm) employee who has been ordered to attend counseling for gambling has pleaded guilty to criminal charges that he stole more than $5 million from his employer to pay personal debts, New York prosecutors said.
Lawrence Obracanik, 42, pleaded guilty to wire fraud affecting a financial institution on Thursday before U.S. District Judge Ronnie Abrams in Manhattan, according to an announcement from U.S. Attorney Preet Bharara.
The charge carries a maximum sentence of 30 years in prison and a $1 million fine, according to Bharara’s office. Obracanik is scheduled to be sentenced by Abrams on July 7.
A lawyer for Obracanik did not immediately respond to a request for comment on Thursday evening.
Obracanik, a resident o…
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