Former Business Relationship Manager of Wachovia Bank Sentenced to 84 Months in Prison for Stealing $14.1 Million from Clients

ALEXANDRIA, VA—Linda Speaks Tribby, 42, of Lovettsville, Va., a former business relationship manager of Wachovia Bank, now a part of Wells Fargo Bank, was sentenced today to 84 months in prison for stealing $14.1 million from clients of Wachovia Bank.

Neil H. MacBride, United States Attorney for the Eastern District of Virginia, and James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office, made the announcement after sentencing by United States District Judge Liam O’Grady.

“Linda Tribby’s stunning greed and extravagant life style drove her to steal more than $14 million,” said U.S. Attorney MacBride. “For more than seven years, she betrayed the trust of the bank’s customers and stole their money to buy a Bell helicopter, a lake house, a hunting cabin, a luxury motor home, cars, real estate, and a menagerie of exotic animals. Ms. Tribby will now spend the next seven years in federal prison for her crimes, which devastated the lives of the victims.”

“Ms. Tribby took advantage of unsuspecting clients and her employer’s trust by taking their money for her personal benefit,” said James McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office. “All investments should be free from fraud even if they are not free from risk. The FBI remains vigilant to those who engage in this kind of abuse of our financial institutions.”

Tribby was also ordered to serve four years of supervised release following her prison term, to pay full restitution, and to forfeit to the United States real and personal properties, funds in her investment and bank accounts, automobiles, a helicopter, trailers, and farm equipment. Tribby pleaded guilty to one count of bank fraud on March 4, 2011.

According to court documents, Tribby had been an employee of Wachovia Bank and its predecessors for more than 25 years and eventually held a position as a business relationship manager. Her job duties were to develop, acquire, and maintain small business account relationships for the bank for clients in Loudoun County and other communities.

From in or about December 2003 through in or about January 2011, Tribby falsely represented to certain customers that Wachovia Bank offered a wealth management account product for which an account holder could earn tax-free interest—even though she knew that the bank did not offer such a product. When the customers expressed their interest in opening wealth management accounts that would earn tax-free interest, Tribby falsely represented to them that the accounts had been created on their behalf. However, these wealth management accounts did not exist. When the customers subsequently instructed her to transfer a certain amount of funds from their bank accounts to what they believed to be their wealth management accounts, Tribby made unauthorized transfers from the customers’ bank accounts to the bank accounts that were controlled by either her or those associated with her for personal use.

To avoid detection of her scheme by the bank and the customers, Tribby fabricated balance statements for the non-existing wealth management accounts on a computer and sent them to her customers on a periodic basis. She also made periodic interest payments to the customers’ bank accounts to lead them to believe that their wealth management accounts were legitimate.

As a result, Tribby obtained by fraud a total of at least $14,169,878 for personal use. Using the proceeds of the crime, Tribby purchased, among other things, a house in West Virginia, approximately 200 acres of land in New York on which she built a hunting cabin, a lake house in New York, approximately 100 acres of land in Nevada, several automobiles, a luxury motor home, a helicopter, and an assortment of livestock to include two zebras.

This case was investigated by the FBI’s Washington Field Office. Assistant United States Attorney Jasmine Yoon is prosecuting the case on behalf of the United States.

A copy of this press release may be found on the website of the United States Attorney’s Office for the Eastern District of Virginia at http://www.justice.gov/usao/vae. Related court documents and information may be found on the website of the District Court for the Eastern District of Virginia at http://www.vaed.uscourts.gov or on https://pcl.uscourts.gov.