Cynthia L. Palmer, Bank Fraud, Illinois 2023

Bethalto, IL - In a shocking case of bank fraud, Cynthia L. Palmer, 45, of Alton, Illinois, has been sentenced to 21 months in prison for her role in a scheme to defraud and embezzle from U.S. Bank.

According to the U.S. Attorney for the Southern District of Illinois, Stephen R. Wigginton, Palmer made unauthorized debits on customers' accounts, targeting mostly older individuals with ages ranging from 65 to 96.

The scheme, which took place while Palmer was employed as a Universal Banker at the Bethalto Airport Branch in Bethalto, Illinois, resulted in a staggering loss of $105,827.62.

Palmer was terminated by U.S. Bank effective December 12, 2013, but in a remarkable display of corporate integrity, the bank promptly made all of the victims whole, thereby sustaining the entire loss.

The successful prosecution of Palmer is the result of an investigation conducted by the U.S. Secret Service, with the assistance of U.S. Bank. The case is being prosecuted by Assistant United States Attorney Norman R. Smith.

Palmer's sentence includes two years of supervised release following her release from prison and a restitution order of $105,827.62.

The people of Bethalto, Illinois, can breathe a sigh of relief knowing that justice has been served in this case. As a community, we must remain vigilant and report any suspicious activity to ensure that those who would seek to harm us are held accountable.

Source: https://www.justice.gov/usao-sdil/pr/former-bank-employee-sentenced-prison-bank-fraud