A US bank manager is accused of embezzling tens of thousands of dollars from an elderly customer’s account and her own branch vault.
The U.S. Federal Reserve says Sandra Adams, a former branch manager and assistant BSA officer of the Illinois-based bank until she was fired on July 10, 2024, has been sanctioned for stealing $16,000 from an elderly customers’ account and $4,000 directly from the bank itself.
“In a series of transactions from November 2023 through July 2024, Adams misappropriated over $16,000 from an elderly Bank customer’s account, and she embezzled approximately $4,000 from the branch vault and her own teller drawer, resulting in a total loss to the Bank exceeding $20,000.”
Due to her actions, which the Fed said constituted violations of the law, regulations, and the bank’s policies,
Adams is banned from further participating in the banking industry ever again.
It is unclear what Adams did with the stolen funds.
“Adam’s conduct constituted violations of law or regulation, unsafe or unsound banking practices, or breaches of fiduciary duty, and involved his personal dishonesty and his willful and continuing disregard for the safety and soundness of the Bank.”
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