The United States has taken action against two bank employees for embezzling funds. Action has been taken against Cassandra Grayson, Former employee of Equity Bank, Andover, Kansas and Sandra Adams, Former employee of First State Bank of Dongola, Dongola, Illinois.
The charges against Cassandra Grayson are that she embezzled $10,000 total for her personal benefit from the Bank’s teller drawer and vault. Sandra Adams was employed as a branch manager and assistant BSA officer. In a series of transactions from November 2023 through July 2024, Adams misappropriated over $16,000 from an elderly Bank customer’s account, and she embezzled approximately $4,000 from the branch vault and her own teller drawer, resulting in a total loss to the Bank exceeding $20,000.
Action taken by US against Employees
1. Participation in Financial Institutions
The individuals are not allowed to participate in any way in the management or operations of financial institutions covered under Section 8(e)(7)(A) of the FDI Act. This includes:
- Any insured depository institution (such as banks that are insured by federal agencies).
- Any holding company of an insured depository institution.
- Any subsidiary of such holding companies.
- Any foreign bank or company operating under U.S. banking regulations.
- Any subsidiary of those foreign banks or companies.
2. Voting or Proxy Activities
The individuals are prohibited from soliciting, obtaining, transferring, or attempting to transfer any proxy, consent, or authorization related to voting rights in any financial institution covered under the FDI Act.
3. Violating Approved Voting Agreements
The person must not violate any voting agreement that has previously been approved by a federal banking regulator.
4. Serving in Bank Management or Employment
The individual is also prohibited from voting for a director of a financial institution, or serving or acting as an institution-affiliated party, such as an officer, a director, an employee in any financial institution covered under the FDI Act.
