Karen Febles, Bank Fraud and Tax Evasion, New Jersey 2023

A former Citibank employee was sentenced to 54 months in prison for stealing more than $1.3 million from a 98-year-old former managing partner of Salomon Brothers.

Karen Febles, 48, of Wallington, N.J., was convicted of bank fraud, four counts of wire fraud, three counts of money laundering, and two counts of tax evasion.

The crime occurred between 2000 and September 2011, when Febles worked as an executive assistant for Citibank in New York City. Her duties included assisting William Salomon with his finances.

Between 2007 and September 2011, at least $1.3 million of Mr. Salomon's funds went from his bank accounts directly into Febles' 21 bank accounts, including two accounts that she maintained for her minor son.

Febles spent hundreds of thousands of dollars on luxury purchases, including a 2011 Range Rover, a Mercedes-Benz, and a three-bedroom home in Clifton, N.J. She also transferred hundreds of thousands of dollars that she stole from Mr. Salomon from her accounts into custodial bank accounts that she maintained for her minor son.

In addition to the prison term, Judge Martini sentenced Febles to three years of supervised release and ordered forfeiture and restitution of $1,154,911. She was also ordered to surrender $38,000 in cash she had put toward her bail.

Source: https://www.justice.gov/usao-nj/pr/former-citibank-employee-who-bilked-former-salomon-brothers-former-partner-out-13-million