Employee bank theft happens more than you might think. Just recently, an Indiana bank employee who stole more than $300,000 from mostly elderly customers was sentenced to prison. Over a period of six years, the woman, 58, stole thousands of dollars from customers by way of credit and debit card fraud and unauthorized withdrawals.
Following an investigation, the former bank employee was charged with two counts of fraud on a financial institution and eight counts of theft, all felonies. The woman pleaded guilty to all charges and , on Thursday, she was sentenced to eight years in prison, with fours years suspended on supervised probation. When she gets out, she will be required to pay restitution for the hundreds of thousands of dollars stolen.
Closer to home, a Brooklyn, Wisconsin bank manager was caught stealing out of the bank vault to the tune of $230,000 over a period spanning 2000 to 2012. Taking a couple of thousand at a time, the woman of 53, manipulated records to hide the theft on paper and, during surprise audits, moved cash from the ATM to the vault when the vault cash was being counted and back to the ATM when the ATM was being counted to elude detection.
At some point the bank caught-on to the shenanigans and alerted authorities. Last month, the bank employee pleaded guilty to bank theft in federal court and faces a maximum of 10 years in prison, a $250,000 fine and three years’ supervised release despite liquidating her retirement account to pay back the stolen money.
When facing financial difficulties, employees who work around money may be tempted to ‘borrow’ funds with the plan to put them back. Maybe it is a one time event or small amounts over a period of time that makes the theft seem less egregious. Unfortunately, when they are caught, the consequences for bank fraud and theft can be dire. Various charges can be brought under a Wisconsin statute for an offense that violates state law, under federal statute for an offense that violates federal law, or both if both state and federal law prohibit the act. Penalties often include incarceration, fines and restitution as well as a permanent record.
If you are being investigated for or have been charged with employee theft or fraud, it is vitally important to hire a knowledgeable and experienced criminal defense lawyer. Waukesha criminal defense attorney, Andrew C. Ladd, has been practicing law in the Milwaukee area for more than 30 years. He is very familiar with the courts and has an excellent reputation among area legal professionals. Attorney Ladd knows the judges and prosecutors who will be dealing with your case and will aggressively defend you against the charges you face. Email or call our offices today 262-542-3900 Free Consultation.
