Bank VP Guilty Of Bank Fraud

Mary S. Becker had been employed by the Jersey State Bank since approximately 1976. During her employment she held various positions including assistant cashier, a director of the bank holding corporation, and executive vice president. Her responsibilities included being in charge of the bank’s general ledger and the corresponding accounts, and she provided regular reports to the president and board members as to the bank’s assets, stability and financial soundness. 

It turns out, however, that she also apparently embezzled about $4.4 million from the bank.
 
Becker has pleaded guilty in federal court in East St. Louis to bank fraud. The bank fraud took place from at least 2003, through January, 2011, in Jersey County, Illinois. The offense of bank fraud carries with it a maximum penalty of up to 30 years’ imprisonment and/or a fine of $1,000,000, five years’ supervised release, and mandatory restitution. The charge also includes a forfeiture allegation seeking property and proceeds traceable to the bank fraud violation, which includes her residence, two condominiums in Osage Beach, Missouri, a 38’ boat, vehicles, trailers, motorcycles, and bank stock.
 
In her guilty plea, Becker admitted that she electronically transferred funds from the bank’s corresponding accounts to her own accounts, inflated expenses to a prepaid expense account, and then electronically transferred the funds to her account, took money from a certificate of deposit account, and concealed the money in the bank’s general ledger. To perpetuate the scheme, Becker provided false information in the monthly reports to the board. Becker additionally provided false information to FDIC examiners and to state bank examiners, prosecutors say.