Troy Woman Sentenced to 33 Months in Prison for Embezzling Over $640,000

Debra Boynton, 44, of Troy, Michigan, was sentenced yesterday by United States District Judge Marianne O. Battani to 33 months in prison and ordered to pay $641,474.24 in restitution on bank fraud charges, United States Attorney Barbara L. McQuade announced. Joining in the announcement was Special Agent in Charge Andrew Arena, Federal Bureau of Investigation (FBI).

Boynton was employed as an assistant in the compliance and community development area for Standard Federal Bank and its successors from August 2000 to November 2007. One of her duties was to identify subjects for the bank's charitable and community giving. She devised a scheme to defraud the bank by forging and falsifying general ledger debit vouchers, ostensibly for payment to charitable entities and other community groups. She then used the funds to pay personal bills and expenses, including common household items like car insurance and water bills, numerous credit cards, and lavish extras like catering and flowers for parties and landscaping and interior designers for her home. Over the seven-year period, Boynton embezzled over $640,000 in 420 fraudulent transactions.

Standard Federal Bank and its successors are now owned by Bank of America. These events occurred before Bank of America assumed responsibility for operations of the bank.

The case was prosecuted by Assistant United States Attorney Erin Shaw.