BofA Insider to Plead Guilty to Hacking ATMs

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A Bank of America computer specialist is set to plead guilty to charges that he hacked the bank's automated tellers to dispense cash without recording the activity.

Rodney Reed Caverly, of Charlotte, North Carolina, is scheduled to plead guilty to a computer fraud charge next Tuesday in federal court in Charlotte, according to his lawyer Christopher Fialko, who declined to comment further on the case.

Caverly was charged last week with one count of computer fraud for allegedly writing a malicious program that ran on Bank of America's computers and ATMs, according to court filings. The documents say Caverly made more than the statutory minimum of US$5,000 from the scam, but they do not spell out the bank's total losses. That number could come out when his plea is entered next week.

He faces a maximum sentence of five years in prison.

Caverly had worked in Bank of America's IT department where he designed and maintained computer systems, including those used by the ATMs. The alleged scam ran between March 2009 and October 2009.

Bank of America representatives were not immediately available to comment on the case Wednesday afternoon.

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