Crypto News Report:
The U.S. Department of Justice has stated that a former bank manager admitted to embezzling over $250,000 from customers to fund his spending habits.
According to the Department of Justice, Eric Jason Schouest, 53, of Plaquemine, Louisiana, has pleaded guilty to charges of embezzlement and bank fraud.
Prosecutors said Schouest admitted to using his position as manager at the Regions Bank Plank Road branch in Louisiana to unlawfully access customer accounts, open and close accounts, and transfer funds in and out of customer accounts for his own gain.
Once in possession of funds from bank customers, Schouest used $250,000 to pay off loans for his house and car.
The Department of Justice stated, “Beginning around 2020 and continuing until around April 2021, Schouest exploited his trusted position at Regions Bank to divert funds from customer accounts to his personal bank accounts. He also sent false and fraudulent emails and forged documents to other Regions Bank employees to conceal his scheme. Some traceable embezzled funds were used to pay off loans for personal items such as a house and car. Through his scheme, Schouest embezzled over $250,000 from Regions’ customer bank accounts.”
According to the Department of Justice, in addition to a fine of $1 million, each conviction of embezzlement and bank fraud carries a maximum sentence of 30 years in prison and supervised release.
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