Bank Executive Charged with Embezzling $345,664 from Lender, Suspected of Forging Documents and Directives

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A bank executive in the US has been accused of embezzling hundreds of thousands of dollars from the financial institution over a period of approximately three months, as reported by the Federal Deposit Insurance Corporation (FDIC).

The FDIC says that between June 5th of 2023 and September 18th of 2023, Jessica Ann Marshall allegedly stole $345,664.66 while working as a branch manager at the Bank of Idaho in Idaho Falls, Idaho.

“Respondent [Jessica Ann Marshall] also falsified Bank documents, including count sheets, in order to hide her theft and embezzlement, and directed Bank employees to sign falsified count sheets.”

While Marshal neither admits nor denies the accusations, the FDIC says Marshall’s actions while serving as a Bank of Idaho executive constituted “unsafe or unsound practices.”

“Respondent’s practices caused the Bank to suffer financial loss, and Respondent received financial gain.

Respondent’s practices involved personal dishonesty and demonstrated Respondent’s willful and continuing disregard for the safety or soundness of the Bank.”

The FDIC consequently prohibits the former Bank of Idaho branch manager from participating in the “conduct of the affairs of any financial institution or organization” in any manner.

Marshall is also prohibited from “soliciting, procuring, transferring, attempting to transfer, voting, or attempting to vote any proxy, consent, or authorization with respect to any voting rights” in any US financial institution regulated by the FDIC.

“The Prohibition Order is effective upon issuance and will remain effective and enforceable until the FDIC, and any ‘appropriate Federal financial institutions regulatory agency,’ … decide in writing to modify, terminate, suspend, or set aside the Order.”

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