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David R. Woods, a former executive at the Bank Leumi Trust Co., has been indicted for allegedly stealing $1.9 million from the New York City Ballet, Manhattan District Attorney Robert Morgenthau said Tuesday. Morgenthau said Woods transferred the money from the ballet company’s investment account to his own account at a brokerage firm without the knowledge or permission of the ballet company or the bank. To hide the alleged theft, Morgenthau said, Woods altered bank documents to show the money had been invested in government bonds. Meanwhile, he transferred the money from his account to a similar account kept by his wife, Morgenthau said.
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