rickyaces
16年前
Ex-CVB Financial banker accused of embezzling
Sep 23, 2010 (San Bernardino County Sun - McClatchy-Tribune Information Services via COMTEX) -- A former Citizens Business Bank branch manager in California's Central Valley has been arrested on felony charges of embezzling $679,000 from customers.
Jeri Sell, who managed Ontario-based Citizens Business Bank's Tulare site, allegedly withdrew funds from customers' accounts over four years without their permission, at times blaming computer errors when customers questioned the activities, court filings said.
In announcing the arrest, which took place Monday, state Attorney General Edmund G. "Jerry" Brown Jr. said it was "a painful case of violated trust."
Christopher Myers, chief executive officer for Citizens Business Bank, said the bank has been cooperating with the investigation.
"We hold the trust of our customers in the highest regard and will continue to do everything in our power to protect their interests," Myers said in a statement.
Citizens Business Bank's parent company, CVB Financial, is the subject of a Securities and Exchange Commission investigation into the institution's handling of troubled loans.
This week's arrest is unrelated to the SEC investigation, Myers said.
Sell joined the company in 2003 when Citizens Business Bank acquired Kaweah National Bank, where she had been a Tulare branch manager.
Law enforcement learned of Sell's alleged violations in May after an internal bank audit, the complaint said.
According to court filings, there were reports of alleged theft from
the night deposit box at the Tulare branch as early as December 2005.
But while initial investigations "did not net any suspect," Sell came under scrutiny at the time based on her "attempts to avoid contact with law enforcement...," said Brian Haney, an investigator with the Tulare Police Department in a statement accompanying the complaint.
Sell's bank accounts showed about $500,000 in unexplained deposits between 2005 and 2009, the complaint said.
Citizens Business Bank fired her in April.
Five customers were allegedly victims of the unauthorized withdrawals from bank accounts and safety deposit boxes, with one person losing $298,000, court records said.
Sell allegedly prevented customers from discovering the withdrawals by placing mail holds on the accounts. When customers discovered unauthorized transactions, she blamed bank errors and promised they would be fixed, according to court filings.
Citizens Business Bank has three branches in Tulare County. The bulk of its locations are in Los Angeles, San Bernardino and Orange counties.
To see more of the San Bernardino County Sun, or to subscribe to the newspaper,
go to http://www.sbsun.com. Copyright (c) 2010, San Bernardino County Sun,
Calif. Distributed by McClatchy-Tribune Information Services. For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544).
Rebecca U. Cho
Copyright (C) 2010, San Bernardino County Sun, Calif.
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