Home Scandal and Gossip Jeffrey Burnham, married bank executive charged $240K on lap dances on corporate...

Jeffrey Burnham, married bank executive charged $240K on lap dances on corporate credit card

Jeffrey Burnham
Even corporate America needs some downtime….(stock image).

Jeffrey Burnham a married father of three and an executive at TD Bank has been sentenced to 18 months jail after charging $240 000 on his corporate credit card such expenses as lap dances and thousand dollar bottles of champagne.

During his sentencing the 42 year old Arundle, Maine executive had told he had spent the money to alleviate work related stress. At the time Burnham pled guilty to felony chages of theft by a bank officer.

The man’s sentencing would also require upon his eventual release three years of supervision and an order to pay back $240 514. 54.

According to court documents, Burnham used the card 72 times at strip clubs in Maine, Massachusetts, New York and Florida from February 2011 until February 2012, when he left the company.

Burnham was a vice president and regional mortgage sales manager in the bank’s Falmouth office at the time, reports The Portland Press Herald.

The executive would also claim his spending sprees were a way to cope with the stress of his job, which included having to fire subordinates who did not meet sales goals. He would also stress that he did not steal because he needed the money or because he had a substance abuse problem.

Jeffrey Burnham

Jeffrey Burnham’s attorney, Sarah Churchill had asked that her client be sentenced to house arrest so he could continue being the primary care provider for his three young children while his wife works.

Judge George Singal questioned Burnham’s remorse, noting that even after TD Bank had confronted Burnham about personal use of the credit card and after he had been notified he was the target of an FBI probe and likely prosecution, Burnham continued to spend thousands on the credit card from his new employer at strip clubs.

Burnham would also disclose that he had kept the impending investigation secret from his family and did not confide in anyone.

He said that final month of his life prior to his initial scheduled appearance in federal court was a ‘blur’ and he remembers little about it.

The man would tell on the day he was first supposed to report to court a year ago, he tried to take his own life but that he has been undergoing therapy consistently since then.

Burnham left TD in February 2012 after 14 years with the bank and went to work for Kennebunk Savings Bank, where he was promoted to senior vice president of retail banking last year.

Jeffrey Burnham

The UK’s dailymail notes a press release announcing Burham’s career move described him as a graduate of the University of Maine at Farmington who served on the Arundel Recreation and Economic Development committees.

According to an affidavit written by FBI agent Paul Pritchard, Burnham used his TD-issued credit card to charge nearly $11,000 on December 2, 2011, at a company that operates Centerfolds strip club in Boston.

His other adult entertainment venue of choice was PT’s Show club in Portland, stated the affidavit. He allegedly spent $35,000 at Centerfolds and PT’s club in less than a month.

Burnham’s alleged financial malfeasance was uncovered in February 2012 – shortly after his departure from TD – when another bank employee opened his corporate credit card statement and noticed several suspicious charges.

When confronted about the expenses by TD investigators, he admitted to misappropriating corporate funds.

In March 2013, Burnham was questioned by FBI about his use of the corporate credit card, at which time he once again confessed to wrongdoing.

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Jeffrey Burnham
Jeffrey Burnham