A brazen case of embezzlement has shaken the trust of Tri-State Bank in Memphis, Tennessee. Tanya Williams, a former bank teller, pleaded guilty to conspiracy and embezzlement, leaving a trail of financial devastation in her wake.
According to the indictment, Williams, in cahoots with her bank manager, orchestrated a scheme to activate dormant accounts and withdraw funds between 2015 and 2016. The duo used their Tri-State computer and user I.D. to activate and enter the accounts, resulting in a staggering loss of over $214,000 for the bank.
The abuse of her position of trust and authority as a teller for her own personal gain had a significant negative impact on the employees and customers of Tri-State Bank. As the U.S. Attorney’s Office prioritizes protecting the security, deposits, and assets of financial institutions, this conviction is a significant step towards accountability.
Tanya Williams pleaded guilty to one-count of conspiracy and another count of embezzlement. The maximum penalty for conspiracy is 5 years imprisonment and a $250,000 fine, while the maximum penalty for embezzlement is 30 years imprisonment and a $1,000,000 fine.
Co-defendant Michael B. Gaines, the bank manager, pleaded guilty to embezzlement on August 30, 2018, and was sentenced to 12 months and one-day in federal prison on December 6, 2018.
Assistant U.S. Attorney Damon Keith Griffin is prosecuting the case on the government’s behalf. The investigation was led by the United States Secret Service.
Williams is set to be sentenced on April 5, 2018, before U.S. District Court Judge John T. Fowlkes. As the case unfolds, one thing is clear: the trust of financial institutions must be protected, and those who abuse that trust will face the full force of the law.
Key Facts
- State: Tennessee
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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