Emigrant Savings Bank Employee Embezzled More Than $139K: DA

ELMSFORD, NY — A Westchester bank employee has been arrested after exploiting a vulnerability to embezzle thousands of dollars from his employer, according to prosecutors.

Westchester County District Attorney Susan Cacace announced on Thursday that the Elmsford man was charged with second-degree grand larceny for stealing from Emigrant Savings Bank.

Duke Biswas was arraigned Wednesday morning on a felony complaint in Elmsford Town Court.

It is alleged by investigators that between March 22, 2024 and March 29, 2024, the 51-year-old was able to breach Emigrant Savings Bank's core platform and manipulate code to alter small monetary deposits in his personal account to reflect deposits totaling $259,977.

A spokesperson said that all of the funds taken were recovered by the bank.

"Financial crimes are not victimless," DA Cacace said. "This arrest sends a clear message. Our office will continue to pursue those who try to exploit the financial system for personal gain and will hold individuals accountable ensuring that justice is served. I would like to credit our highly trained investigators for their work in this case. I would also like to ensure the public that we will further our commitment to offer training and resources to all of our personnel so that they can successfully investigate and prosecute these types of cases."

Biswas was arraigned and released on his own recognizance. In New York, grand larceny in the second degree is generally a non-qualifying offense for bail, according to the DA.

The investigation is being conducted by the Westchester County District Attorney's Office.

The article has been updated to clarify that the bank recovered all of the misappropriated funds. A previous version incorrectly said that the bank suffered a financial loss.