Greenville Woman Guilty of $600,000 Bank Fraud

COLUMBIA, SC—United States Attorney Bill Nettles stated today that Lisa Sedgely Smith, of Greenville, pled guilty today in federal court in Anderson, to bank fraud, a violation of Title 18, United States Code, Section 1344. Senior United States District Judge G. Ross Anderson of Anderson, Jr. accepted the plea and will impose sentence after he has reviewed the presentence report which will be prepared by the U.S. Probation Office.

Evidence presented at the change of plea hearing established that Smith was a long-time employee of a local, family owned business. In December 1997, she began to embezzle funds by writing company checks to herself. These checks were drawn on her employer’s accounts at BB&T and Wachovia. When her actions were discovered in early 2010, she admitted to what she had done and assisted in determining the total loss amount, which was calculated to be in excess of $600,000.00.

Mr. Nettles stated the maximum penalty Smith can receive is a fine of $1,000,000.00 and/or imprisonment for 30 years.

The case was investigated by agents of the Federal Bureau of Investigation. Assistant United States Attorney David C. Stephens of the Greenville office handled the case.