Coin World reports:
The U.S. Department of Justice states that a former bank manager has admitted to stealing over $250,000 from clients to fund his consumer habits.
The Department of Justice says 53-year-old Eric Jason Schouest from Plaquemine, Louisiana, has confessed to embezzlement and bank fraud charges.
Prosecutors state that Schouest acknowledged abusing his authority as a manager at the Regions Bank Plank Road branch to illegally access customer accounts, open and close accounts, and transfer funds in and out of customer accounts to steal money.
Once in possession of the bank clients’ money, Schouest paid off a $250,000 loan for his house and car.
The Department of Justice states,
“Starting around 2020 and continuing until about April 2021, Schouest exploited his trusted position at the regional bank to misappropriate funds from customer accounts and deposit them into his personal bank account.
He also sent false and fraudulent emails and forged documents to other regional bank employees to cover up his scheme. Some of the traceable fraudulent funds were used to pay loans for personal items such as houses and cars. Through his scheme, Schouest misappropriated over $250,000 from Regions’ customer bank accounts.”
The Department of Justice states that in addition to a $1 million fine, each of Schouest’s convictions for embezzlement and bank fraud could result in up to 30 years of imprisonment and supervised release.
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