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Banker Accused Of Stealing $2 Million From Elderly Customers — At Two Different Banks

Friday, May 31, 2013 - 6:34 AM
From Consumerist:
Remember that Wells Fargo employee charged with defrauding a 90-year-old customer out of $10,000? That’s amateur hour compared to the Oakland woman accused of not only stealing around $2 million from bank customers — but doing it at two different banks.

The former employee of U.S. Bank and, more recently, First America Bank, has charged with 20 felony counts, including grand theft, money laundering and elder financial abuse over allegations that go back three years.

Authorities believe that in May 2010, the banker began embezzling money from elderly customers at U.S. Bank. It apparently went unnoticed until early 2013, when a wealth manager at the bank noticed that a customer’s statement had been altered.

The Alameda County District Attorney’s Office investigated and found that the value of one customer’s CD had withered, from more than $972,000 to about $353,000.

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