Yvonne Sanchez, Bank Fraud, South Carolina 2018

Chapin Woman Pleads Guilty to Bank Fraud

Columbia, South Carolina - In a shocking turn of events, 40-year-old Yvonne Sanchez of Chapin has pleaded guilty to bank fraud, a violation of Title 18, United States Code, § 1344.

According to United States Attorney Beth Drake, Sanchez, who was the bookkeeper for EveryWord, Inc., a court reporting business in the Columbia area, opened fake accounts in the name of EveryWord at All South Federal Credit Union. As part of her duties, Sanchez was supposed to be depositing checks made payable to EveryWord into the legitimate business account at First Community. Instead, she diverted the checks into her own accounts for her personal use.

Sanchez's scheme resulted in EveryWord being defrauded of $121,461.76. The maximum statutory penalty faced by Sanchez is imprisonment for thirty years and a fine of $1,000,000.

The United States Department of Homeland Security investigated the case, and Assistant United States Attorney Winston David Holliday, Jr., of the Columbia office is prosecuting the case.

Senior United States District Judge Cameron McGowan Currie accepted the guilty plea and will sentence Sanchez on January 24, 2018.

Sanchez's actions have left the community in shock, and many are left wondering how someone in a position of trust could engage in such deceitful behavior.

The case is a stark reminder of the importance of accountability and the need for businesses to have robust systems in place to prevent such frauds from occurring.

Source: https://www.justice.gov/usao-sc/pr/chapin-woman-pleads-guilty-bank-fraud