LUBBOCK, Texas (News Release) – A bank CFO who embezzled more than $800,000 from a small-town bank was sentenced Thursday to nearly three years in federal prison, said Lega Simonton, U.S. Attorney for the Northern District of Texas. announced.
Vicki Lee Grisham, 52, the former CEO of Abernathy First State Bank in Texas, pleaded guilty in July to felony charges of theft, embezzlement and misappropriation of information by a bank employee. Ta. She was sentenced Thursday in Lubbock to 33 months in federal prison by U.S. District Judge James Wesley Hendricks, and is required to pay $800,755.63 in restitution to the bank's insurance company and five years after contesting the sentence. He was ordered to serve one year of supervised release.
According to court documents, Grisham was issued a credit card to purchase business-related products from the bank and was responsible for paying the credit card bill.
In March 2023, the bank systematically used her credit card for all sorts of non-banking items and services, including vacations, restaurant meals, clothing, college tuition, and even her own personal income taxes. It turned out that he was using it. She did not repay the bank for the fraudulent charges.
The same day bank management confronted her, Ms. Grisham signed a document admitting that she had made fraudulent charges for the benefit of herself and her family.
Under the terms of his plea agreement, Grisham must also agree to: F.D.I.C. Further non-participation orders prohibiting future employment and participation in FDIC-insured financial institutions.
The Federal Bureau of Investigation Dallas Field Office conducted the investigation. Assistant U.S. Attorney Ann Howie prosecuted the case.
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