Maine Bank Executive Accused of Spending $220,000 at Strip Clubs

Jeffrey Burnham, 41, of Arundel, a former TD Bank executive is accused of using his corporate credit card 72 times at strip clubs throughout Maine, Massachusetts, New York and Florida. He allegedly spent about $220,000 of the bank’s money. He is scheduled to appear in federal court in Portland Thursday (May 15) to face a felony theft charge.

Burnham, was a vice president and regional mortgage sales manager at the bank’s Falmouth office at the time of the expenses. According to the Portland Press Herald he justified the expenses...

...by falsely claiming they were for business-related purposes, including conferences, meals with employees or clients and membership dues. TD Bank then paid these expenses using bank funds.

If convicted, he will face up to 30 years in federal prison and a fine of $1 million.