Former Southbank Employee Indicted for Bank Fraud

BIRMINGHAM—A federal grand jury today indicted a Huntsville woman for bank fraud on charges she stole more than $500,000 from ATM machines and a bank vault at the Huntsville bank where she worked, U.S. Attorney Joyce White Vance announced.

The indictment charges that KELESTE SHERRILL, 48, of Huntsville, was a Southbank employee who took money from the bank’s ATM machines and vault over five years, from about January 2004 to August 2009. The indictment claims Sherrill used the ATM ledgers and avoided bank surveillance cameras as part of her scheme. She defrauded the bank, which is insured by the Federal Deposit Insurance Corporation, of about $533,000, according to the indictment.

If convicted of bank fraud, Sherrill faces maximum imprisonment of up to 30 years and a fine of up to $1 million. The indictment also includes a forfeiture count whereby Sherrill could be ordered to forfeit the proceeds of her illegal activities or other assets, if she is convicted.

Vance thanked the Federal Bureau of Investigation for its work, which led to the grand jury indictment. Assistant U.S. Attorney Angela R. Debro is prosecuting the government’s case.

“Financial institution fraud poses a threat to our nation’s banking system,” said FBI Special Agent in Charge Patrick Maley. “The public can rest assured that when these frauds occur, the FBI will pursue those responsible.”

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.