Friday, February 5, 2010

Former Louisiana Banker Sentenced To 18 Months For $178K Embezzlement

Jeremy J. Rayburn, 35, of Baton Rouge, Louisiana, was sentenced to 18 months in prison for embezzling $178,225 from the JP Morgan Chase Bank in Metairie where he had been employed. According to prosecutors, Rayburn forged signatures on withdrawal slips to move money from dormant accounts into cashier's checks and then deposited those checks into one dormant account he used as a central repository. From there, he withdrew money via automated teller machines or transferred money by wire to accounts he controlled at other institutions. His scheme lasted from May 1, 2006, through July 26, 2007, according to reports. Rayburn had pleaded guilty to one count of bank larceny last October.

Read the story here, here and here.

Read the DOJ announcement here.

Read the DOJ's "Factual Basis" for the case here.

No comments: