Man Charged in Federal Court with Bank Fraud and Embezzlement

BIRMINGHAM, AL—JERRY HICKS, JR., 28, of Homewood, Alabama, was charged in a three-count indictment filed today at U.S. District Court in Birmingham. United States Attorney Alice H. Martin and Carmen S. Adams, Special Agent in Charge, Federal Bureau of Investigation, announce today that HICKS has been indicted by a federal grand jury for Bank Fraud and Embezzlement.

Count one charges bank fraud and count two charges bank embezzlement. Beginning in September of 2008 through December of 2008, HICKS, an employee of Wachovia Bank in Homewood, Alabama embezzled $66,900.00 and submitted false documents to bank authorities in an effort to conceal his theft of vault funds. On or about October 30, 2008, Hicks embezzled $2,000 from the Wachovia bank vault.

The maximum sentence for counts one and two is not more than 30 years imprisonment and a $1,000,000 fine. Count three specifies a forfeiture amount of $66,900.00.

“The significant risk that financial institution fraud poses to our nation’s banking system is heightened when that fraud is carried out by bank employees,” stated U.S. Attorney Alice H. Martin.

“Mr. Hicks betrayed the trust of his employer and abused his position to steal from a federally insured institution,” states Carmen S. Adams, Special Agent in Charge, Federal Bureau of Investigation. “The FBI stands ready to investigate and bring to justice those who choose to participate in this type of theft.”

Special agents of the Federal Bureau of Investigations worked this case. Assistant United States Attorney Patrick Carney is prosecuting the matter on behalf of the United States.

Members of the public are reminded that the indictment contains only charges. A defendant is presumed innocent of the charges and it will be the government’s burden to prove a defendant’s guilt beyond a reasonable doubt at trial.