Former Bank of America Employee Sentenced in Connection with Money Laundering Scheme

Jeffery H. Sloman, Acting United States Attorney for the Southern District of Florida, and Michael J. Folmar, Acting Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, announced today’s sentencing of a former Bank of America employee in connection with a $1.8 million money laundering scheme. Defendant Michelle Torres was sentenced today by U.S. District Judge Adalberto Jordan to 41 months in prison for her role in a scheme that laundered the fraud proceeds of a Miami-based durable medical equipment company, S.Y.C. Home Medical Equipment, Inc.

During 2006, Bank of America employed Torres as teller coordinator at its Sky Lake Office in Miami-Dade County. Torres used her position at the bank to allow her co-conspirators to conduct more than $1,000,000 in cash withdrawals from two SYC Bank of America accounts at the Sky Lake branch. In exchange for cash payments, Torres allowed relatives to make withdraws from the SYC bank accounts and also falsified reporting documentation to make it appear as if others had conducted the cash withdrawals. Surveillance footage obtained during the investigation documented Torres’ co-conspirators waiting in line to cash thousands in SYC checks at Torres’ window during several months in 2006.

After being charged with money laundering in June 2007, Torres fled to the Dominican Republic. In December 2008, Torres was returned to the U.S. with the assistance of the Dominican Republic. The Court sentenced Torres to an additional 10 months for fleeing the Southern District of Florida.

Mr. Sloman commended the investigative efforts of the Federal Bureau of Investigation and acknowledged the assistance of the Dominican Republic’s Special Investigative Unit and Bank of America’s Investigative Services Unit. The case was prosecuted by Special Assistant U.S. Attorney William J. Parente Jr.

A copy of this press release may be found on the website of the United States Attorney's Office for the Southern District of Florida at www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.