A former Indiana credit score union supervisor has been sentenced to 3 years in federal jail after stealing greater than $381,000 from buyer accounts, together with these belonging to aged victims.
Teresa Palmer, 55, of Columbus, Indiana, pleaded responsible to 2 counts of financial institution fraud after prosecutors mentioned she abused her place at Credit score Union 1 to hold out tons of of unauthorized transactions, says the U.S. Lawyer’s Workplace for the Southern District of Indiana
Palmer labored as a department supervisor at a Credit score Union 1 location in Columbus from 2014 till December 2022. Her place gave her entry to buyer accounts and allowed her to course of withdrawals and cashier’s checks when transactions have been approved by account holders.
The scheme got here to gentle in 2022 after the credit score union fired Palmer for forging buyer signatures on banking paperwork. Shortly afterward, a buyer reported suspicious exercise involving her father’s account.
An inner investigation allegedly uncovered that Palmer had accessed the account with out permission and brought cash from it. Additional examination recognized three further buyer accounts that had additionally been focused.
In keeping with court docket paperwork, Palmer targeted on prospects who have been aged or unlikely to recurrently assessment their funds. Between January 2021 and December 2022, she used her work pc and the credit score union’s banking system to make unauthorized withdrawals and use the cash for herself, together with playing bills.
Palmer additionally created cashier’s checks utilizing prospects’ funds and made them payable to different individuals. She cast signatures and endorsements on the checks, then introduced them to tellers whereas falsely claiming the transactions had been accredited by the purchasers.
In complete, prosecutors decided that Palmer stole $381,400.05 from a number of victims, together with no less than one particular person with dementia.
Palmer was sentenced to 3 years in federal jail adopted by three years of supervised launch. She was additionally ordered to pay $381,400.05 in restitution.
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