A former TD Bank executive pleaded guilty in U.S. District Court in Portland Tuesday to theft by a bank officer.


According to court records, 41-year-old Jeffrey Burnham of Arundel, Maine stole about $240,000 while employed as a bank vice president from February 2011 to February 2012. Investigators said Burnham used corporate credit cards at gentleman's clubs in Maine, Massachusetts, New York, and Florida and then submitted false expense reports.

Burnham also gave strip club employees TD Bank gift cards that were designed to be given to clients.

He now faces up to 30 years in prison and a $1 million fine. According to the U.S. Department of Justice, Burnham will be sentenced after probation officers complete a pre-sentencing investigation report.

The investigation was conducted by the Federal Bureau of Investigation.