News Column

Former TD Bank executive charged with spending $220,000 of company funds at 'gentlemen's clubs'

May 12, 2014

By Beth Brogan, Bangor Daily News, Maine



May 12--PORTLAND, Maine -- A former vice president at TD Bank used a corporate credit card to rack up $220,000 in charges at "gentlemen's clubs," according to court documents.

Jeffrey C. Burnham, 41, of Arundel is charged in U.S. District Court with theft by a bank officer.

Burnham allegedly admitted the fraud to the company, according to an affidavit filed by Federal Bureau of Investigation special agent Paul S. Pritchard III. He later allegedly admitted to Pritchard that he used the card at the clubs.

The longtime employee, whose office was in Falmouth, is charged with using the card on 72 occasions at "several different gentlemen's clubs" located in Maine, Massachusetts, New York and Florida between February 2011 and February 2012.

Burnham then allegedly described the expenditures as legitimate business expenses including conferences, meals with employees or clients and membership dues. The bank then paid the credit card bills, the court records show.

In one case, Burnham's credit card statement shows a charge to "La Grange, Boston, Massachusetts" for $10,088 incurred on Dec. 2, 2011, the complaint alleges. La Grange operates the gentlemen's club Centerfolds in Boston.

In a subsequent email to another TD Bank employee, Burnham allegedly wrote that the charge was for membership in the Massachusetts Bankers Association.

After Burnham left the bank in February 2012, another bank employee opened his most recent corporate credit card statement and noticed charges at La Grange and Kenkev II Inc. in Portland. Kenkev II operates PT's Show Club, a gentlemen's club in Portland.

An investigation by the company revealed that the invoice was not authentic, the company did not have a membership, and that the membership fee was only $995.

Burnham allegedly charged approximately $35,000 at Centerfolds and PT's Show Clubbetween Jan. 24 and Feb. 20, 2012.

The Class B felony carries a maximum sentence of 30 years in prison and a maximum fine of $1 million.

Burnham is scheduled to appear in U.S. District Court in Portland on May 15.

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(c)2014 the Bangor Daily News (Bangor, Maine)

Visit the Bangor Daily News (Bangor, Maine) at www.bangordailynews.com

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Source: Bangor Daily News (ME)


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