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Former SunTrust Bank employee pleads guilty to stealing $70,000 to pay for her gambling habit

Michelle L. Newman, a former employee for SunTrust Bank, has pleaded guilty to bank theft in connection with the theft of approximately $70,000 from the bank, United States Attorney Kenneth L. Wainstein and Joseph Persichini, Jr., Acting Assistant Director in Charge of the FBI’s Washington Field Office, announced today.  Newman acknowledged that she worked at SunTrust Bank in the Wealth Management Division until July 2005. It was in July of 2005, when officials at SunTrust became concerned about general ledger entries made by Newman for alleged client functions and expenses or supplies that reportedly had been requested by specific team leaders and approved by Newman’s supervisors. The SunTrust officials noted that a number of ledger entries for the debit ticket to pay these expenses made during the first six months of 2005 had forged signatures authorizing payments and that the offsetting credit ticket for each entry was deposited into Newman’s personal checking account.

See the full release here.

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