A jury has awarded nearly $2 million to the owner of a now-defunct discount store after finding that the Bank of Rhode Island drove the store out of business by wrongfully demanding repayment for funds withdrawn by an embezzling employee.
Rhode Island judiciary spokesman Craig Berke said Friday the judgment in favor of Joseph Pietrantonio came after a weekslong jury trial.
In 2009, Rhonda Hastings was sentenced to 2 1/2 years in prison for embezzling $540,000 from Pietrantonio’s store, where she was a bookkeeper.
Lawyers for Pietrantonio say the Bank of Rhode Island permitted Hastings unauthorized access to the store’s credit line, then refused to forgive the debt despite knowing the money was withdrawn illegally.
A Bank of Rhode Island spokesman did not immediately respond to a request for comment.
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