Ruth Jackson, Bank Fraud, Missouri 2013

Ruth Jackson, Former Finance Director, Pleads Guilty to Bank Fraud in Missouri

In a shocking turn of events, Ruth Jackson, former finance director of The Flood Team, a St. Louis-based remediation and restoration services company, has pleaded guilty to bank fraud charges. According to court documents, Jackson embezzled over $40,000 by diverting checks and funds payable to The Flood Team into a secret corporate account and writing checks to herself.

The Flood Team hired Jackson as Director of Finance in August 2011, and she was responsible for paying bills, preparing deposits, and managing various bank accounts. However, between November 2011 and late April 2012, Jackson secretly kept the old corporate account open and hidden from the owner of the business. She used this account to embezzle the funds, which she then cashed at various locations in the area.

Ruth Jackson, St. Louis, MO, pleaded guilty to one felony count of bank fraud before United States District Judge John Ross. Sentencing has been set for May 2, 2013. Bank fraud carries a maximum penalty of 30 years in prison and/or fines up to $1 million.

The case was investigated by the United States Postal Inspection Service. Assistant United States Attorney John Bodenhausen is handling the case for the U.S. Attorney's Office.

In determining the actual sentences, a Judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges. The guidelines will be used to determine the final sentence for Ruth Jackson.

The embezzlement scheme was uncovered, and Jackson's guilty plea marks a significant victory for The Flood Team and its owner. The company can now begin the process of healing and rebuilding, free from the threat of further financial loss.

Ruth Jackson's case serves as a reminder of the importance of financial transparency and accountability in business. Companies must take steps to prevent embezzlement and ensure that their financial systems are secure.

Source: https://www.justice.gov/usao-edmo/pr/former-finance-director-flood-team-pleads-guilty-fraud-charges