TEXAS BANK PRESIDENT INDICTED FOR EMBEZZLEMENT AND FRAUD
Laurie Mayfield, a former president of D'Hanis State Bank, has been indicted on federal charges for allegedly stealing an estimated $6,500 from the bank and filing fraudulent reports to regulators. The indictment, returned on Wednesday, charges Mayfield with one count of bank fraud and three counts of embezzlement by a bank employee.
The alleged embezzlement occurred from January 2012 until September 2014, when Mayfield, 54, of Fredericksburg, Texas, prepared and filed false Consolidated Reports of Condition and Income (also known as "Call Reports") with federal and state bank regulators on behalf of DSB.
Those false reports overstated the assets of DSB by approximately $830,000. The false reports were included in an approval package submitted to federal regulators by a holding company that owned DSB, as part of a bank acquisition process. Last September, the holding company that owned DSB was purchased by a separate entity, which relied on the false DSB Call Reports in their decision-making process.
Each charge against Mayfield carries a maximum sentence of 30 years in federal prison upon conviction. During her initial appearance today in San Antonio, Mayfield was released on a $50,000 bond. Arraignment is scheduled for April 28, 2015, before U.S. Magistrate Judge Pamela Mathy.
The case resulted from a joint investigation by the Federal Bureau of Investigation, U.S. Secret Service, Federal Deposit Insurance Corporation, and the Office of Inspector General for the Board of Governors of the Federal Reserve System – Consumer Financial Protection Bureau. This case is being prosecuted by Assistant United States Attorney Greg Surovic.
It is essential to note that an indictment is merely a charge and should not be considered as evidence of guilt. The defendant is considered innocent until proven guilty in a court of law.
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Key Facts
- State: Texas
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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