A vice president of loan operations recently pled guilty in court to stealing more than $600,000 from a Tennessee bank where she worked.
The woman admitted to stealing, embezzling, misapplying, and concealing funds. She said she used her position to significantly lower the mortgage on her parents' home; pay off her own $200,000 mortgage with bank funds; and write cashier's checks to pay for more than $350,000 in personal expenses. She also admitted to failing to report the additional income on her tax filings.
She told the court she embezzled from her employer because she thought she wasn't paid enough to adequately compensate her for her work. Therefore, she stole the money to "rectify the situation."
The woman faces up to 30 years in prison. Valerie Edwards "Tennessee bank executive admits to stealing $600,000 from her employers because she believed she 'wasn't getting paid enough'" www.dailymail.co.uk (Dec. 03, 2019).