Lisa L. Taylor, Bank Fraud Conspiracy, Missouri 2013

Kansas City, MO - A shocking case of bank fraud has come to light in the Western District of Missouri, where a former UMB Bank employee has pleaded guilty to embezzling over $650,000.

Lisa L. Taylor, 54, a former closing account specialist at UMB Bank, pleaded guilty in federal court to the charge contained in a June 20, 2013, federal indictment. Taylor was employed by UMB Bank from May 2006 until October 2010, when a corporate fraud investigation discovered she had fraudulently embezzled UMB funds.

According to the investigation, Taylor used her position to generate 377 fraudulent checks totaling $650,659. In addition to Taylor, 11 friends and family members have also pleaded guilty to their roles in the bank fraud conspiracy.

The scheme, which lasted virtually the entire time Taylor worked at the bank, involved Taylor requesting checks payable to her friends and family, who cashed or deposited the checks. They kept a portion of the proceeds and returned a portion to Taylor. Taylor also had checks made payable to fictitious names, to which she forged the signatures and deposited into her bank account.

UMB records revealed that Taylor personally negotiated 66 fraudulent UMB bank checks for a total of $96,793. Under the terms of today's plea agreement, Taylor must forfeit to the United States a $650,659 money judgment.

Taylor faces a sentence of up to 30 years in federal prison without parole, plus a fine up to $1 million and an order of restitution. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

The case is being prosecuted by Assistant U.S. Attorney Paul S. Becker. It was investigated by the U.S. Secret Service.

Taylor's guilty plea marks a significant blow to the UMB Bank's reputation, and the case serves as a reminder of the importance of corporate accountability in preventing financial crimes.

Source: https://www.justice.gov/usao-wdmo/pr/former-bank-employee-pleads-guilty-650000-bank-fraud-conspiracy