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BANK VP’S $75,000 THEFT EXPOSED
LITTLE ROCK, AR – A devastating crime has shaken the financial world in Arkansas. Matthew Daniel Sweet, 41, of Timbo, has been accused of stealing nearly $75,000 from Onebanc, the bank where he served as Vice President and Controller.
According to the indictment, Sweet, who was employed at Onebanc from 2009 to 2012, used his position to sign cashier’s checks drawn on a clearing account. He then mailed the checks to his personal credit cards to pay off his bills, totaling $74,974.15.
The scandal came to light when Onebanc management confronted Sweet, who admitted to the crime. He was allowed to resign, but not before paying back the amount he had stolen with two cashier’s checks from another bank.
The indictment charges Sweet with 30 counts of bank fraud and 30 counts of money laundering. If convicted, he faces a maximum sentence of 30 years in prison for bank fraud and 20 years for money laundering, as well as fines of up to $1,000,000 and $500,000 respectively.
The investigation was a collaborative effort between the IRS-Criminal Investigations, SIGTARP, Federal Bureau of Investigation, Federal Reserve, and the FDIC. The case is being prosecuted by First Assistant United States Attorney Pat Harris and Assistant United States Attorney Angela Jegley.
Sweet is scheduled to appear in court on December 9, 2013, before United States District Judge J. Leon Holmes. The trial is expected to shed more light on the shocking allegations against the former bank executive.
Key Facts
- State: Arkansas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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