FORMER BANK EMPLOYEE PLEADS GUILTY TO BANK FRAUD

BIRMINGHAM, AL - LEIGH ANN SMITH, 41, of Hartselle, Alabama, pled guilty today to one count of Bank Fraud.  SMITH was hired by First American Bank to serve as the bank’s Card Services Manager in Decatur, Alabama.

According to the Information filed August 4, 2008, SMITH, from in or about June 2005, and continuing to in or about November 2007, knowingly executed a scheme to defraud First American Bank.  SMITH opened a Visa Gold credit card under her husband’s name and social security number.  SMITH made a cash advance from that credit card to Compass Bank, where SMITH had been employed previously as a Risk Analyst.    From June 2005 until November, 2007, SMITH conducted a series of unauthorized credit card increases that increased the card’s limit to $350,000.00.  SMITH then altered the report that was reviewed by credit card department personnel to visually remove maintenance conducted on the credit card account.  SMITH also turned off credit bureau reporting, finance charges and interest.  SMITH was later questioned by the  Senior Vice President of Operations.  On February 13, 2008, SMITH departed First American Bank and made a cash withdrawal in the amount of $980.00 from an ATM in Hartselle, Alabama.  SMITH attempted another cash withdrawal on February 14, 2008, and later that day submitted her resignation letter via email.  As of February 14, 2008, the Visa Gold credit card carried a balance in excess of $290,000.00.

“Ms. Smith’s guilty plea validates the hard work of the committed individuals who investigated this complex scheme,” states U.S. Attorney Alice H. Martin.  “ She now faces prison and fines as a result of her fraud and scheme activities.”

“Ms. Smith betrayed the trust of her employer and abused her position to steal from a federally insured institution,” stated Carmen S.  Adams, Special Agent in Charge, Federal Bureau of Investigation.  “The FBI stands ready to investigate and bring to justice those who choose to participate in this type of theft. 

SMITH faces a maximum penalty for bank fraud is not more than 30 years and fine of $1,000,000  Assistant United States Attorney Angela R. Debro is prosecuting the matter on behalf of the United States.

###