The Department of Justice announced that a former bank manager has admitted to stealing more than $250,000 from customers to fund his own extravagant spending habits.
The Department of Justice announced that Eric Jason Shouest, 53, of Plaquemines, Louisiana, pleaded guilty to embezzlement and bank fraud.
According to prosecutors, Showest admitted to using his authority as manager of the Regions Bank's Plank Road branch to illegally access customer accounts, open and close accounts and steal funds from customer accounts.
Showest seized the bank's customers' money and used $250,000 to pay off his own home and car loans.
The Department of Justice stated:
“From approximately 2020 through April 2021, Showest abused his position of trust with Regions Bank to embezzle funds from client accounts and deposit them into his own personal accounts.”
He also sent false and fraudulent emails and forged documents to other Regions Bank employees to conceal his scheme. Some of the traceable fraudulent funds were used to pay personal loans, including for homes and cars. Through his scheme, Showest misappropriated more than $250,000 from Regions Bank customer bank accounts.”
In addition to the $1 million fine, Showest's embezzlement and bank fraud convictions each carry penalties of up to 30 years in prison and/or probation, the Justice Department said.
Don't miss out on the latest news – subscribe to receive email alerts directly to your inbox
Check price trends
follow me XFacebook, Telegram
Browse the daily Hodl mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: On the road
