This week, it was announced that 39-year-old Erica L. Keller of Elkins, Arkansas had been sentenced to 37 months in federal prison and five years of supervised release. The defendant was sentenced on one count of Theft, Embezzlement or Misapplication by Bank Officer or Employee. Court records show that in October of 2013, an investigation at the bank where Keller worked as a Loan Officer was initiated to look into all of the loan accounts managed by the defendant.
Following the bank’s internal fraud investigation, agents with the FBI and Federal Deposit Insurance Corporation joined in. The investigation found that Keller took cash withdrawals from customer loan accounts at origination, falsified disbursement tickets to withdraw cash from customer loan accounts, savings accounts and demand deposit accounts, and originated false loans and received the proceeds. The defendant also misapplied customer loan payments to conceal fictitious loans.
Further details have been made available here.