The Federal Reserve has caught a financial institution worker allegedly embezzling tens of hundreds of {dollars} from a nonprofit group the place she labored.
In a brand new press launch, the Fed is prohibiting former Jonah Financial institution worker Kendall Hickman from taking part in actions associated to monetary establishments after she was allegedly discovered to have embezzled $33,212 from a nonprofit group.
In response to the Fed, Hickman labored for each the Wyoming-based financial institution in addition to moonlighted for an unnamed nonprofit group as a bookkeeper.
She labored for each corporations from July 2021 to June 2023, and thru unexplained means, she managed to embezzle the funds from the nonprofit, however was allegedly caught by authorities.
The Fed says Hickman’s actions “constituted violations of regulation or regulation and concerned private dishonesty.” Although she has repaid the nonprofit in full and has consented to the enforcement actions in opposition to her, she has neither admitted nor denied any of the allegations.
The prohibition order notes that taking this enforcement motion doesn’t bar it from taking additional actions in opposition to Hickman afterward. If Hickman have been to violate this order, she could be charged with separate civil or prison penalties, based on the press launch.
Jonah Financial institution, the nation’s 1,474th-largest financial institution, has $529 million value of property beneath its administration and was established in 2006.
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