Two former employees of IBC Bank in Laredo, Texas, have been ordered to federal prison for their role in a bank fraud scheme that netted them more than $200,000 in unauthorized loans and loan advances. Antonieta De La Cruz, 36, and Anaiza Morales, 38, pleaded guilty to conspiracy to commit bank fraud in 2015 and 2016, respectively.
The scheme, which lasted from 2011 to July 2014, involved De La Cruz and Morales misusing their positions as IBC Sales Associates to execute 31 unauthorized loans and loan advances by falsifying bank records, forging signatures and endorsements, and pledging customers’ certificate of deposits as collateral without their knowledge or consent.
As a result of the scheme, IBC Bank suffered a total loss of approximately $219,720.11. Both De La Cruz and Morales were ordered to pay restitution in the same amount.
U.S. District Judge Diana Saldaña handed down the sentences, noting that IBC Bank tries to promote from within and has an interest in their employees reaching their full potential, making their breach of trust all the more shame-worthy.
De La Cruz, who has been in custody, will serve a 27-month-term of federal imprisonment. Morales, who was permitted to remain on bond, will also serve a 27-month-term and is expected to voluntarily surrender to a U.S. Bureau of Prisons facility in the near future.
The investigation was conducted by the U.S. Secret Service, with Assistant U.S. Attorney Christopher S. Coker prosecuting the case.
The guilty pleas and sentences mark the end of a scheme that saw two former bank employees exploit their positions for personal gain. The case serves as a reminder of the importance of trust and integrity in the banking industry.
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Key Facts
- State: Texas
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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