Local Businesswoman Sentenced for Bank Fraud Scheme
Columbia, South Carolina – In a shocking turn of events, a local businesswoman was sentenced to 15 months in jail for her role in a brazen bank fraud scheme.
Yvonne Sanchez, 40, of Chapin, was found guilty of committing Bank Fraud, a violation of Title 18, United States Code, § 1344. The crime, which took place between July 2014 and June 2016, saw Sanchez, the bookkeeper for EveryWord, Inc., a court reporting business in the Columbia area, open fake accounts in the name of EveryWord at All South Federal Credit Union.
As part of her duties, Sanchez was supposed to deposit checks made payable to EveryWord into the legitimate business account at First Community. However, she had other plans. Instead, she diverted the checks into her own accounts for her personal use.
The scheme, which lasted nearly two years, resulted in Sanchez defrauding EveryWord of $121,461.76. The staggering amount is a testament to the severity of the crime and the lengths Sanchez went to in order to line her own pockets.
The United States Department of Homeland Security investigated the case, with Assistant United States Attorney Winston David Holliday, Jr., of the Columbia office prosecuting the case.
Sanchez’s sentence, handed down by Senior United States District Judge Cameron McGowan Currie, includes 15 months in jail and restitution of $121,461.76 to the victim. The sentence is a stark reminder that those who engage in such crimes will be held accountable for their actions.
As the community continues to reel from the news, one thing is clear: bank fraud will not be tolerated. The sentence handed down to Sanchez serves as a warning to those who would seek to engage in similar behavior.
Key Facts
- State: South Carolina
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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