Federal Grand Jury Indicts Former LegacyTexas Bank Employee for Embezzlement

DALLAS — A federal grand jury returned an indictment last week, unsealed today, charging a former LegacyTexas Bank employee with embezzlement. U.S. Attorney John Parker of the Northern District of Texas made today’s announcement.

The two-count indictment charges Susann Nelson, 54, of Greenville, Texas, with one count of bank theft, embezzlement, or misapplication and one count of fraud and false statements in bank entries, reports, and transactions. Nelson surrendered to federal authorities and made her initial appearance in federal court yesterday.

According to the indictment, between 1999 and 2015, Nelson was an employee of LegacyTexas Bank in Richardson, Texas. Starting sometime in 2006 and continuing until 2015, Nelson managed the central vault, where she maintained control over the amount of cash in the LegacyTexas Bank’s vault on a daily basis, including ordering cash from the Federal Reserve Bank and other financial institutions and documenting the receipt of cash into the bank’s books and records.

The indictment alleges, starting in January 2010 and continuing until February 10, 2015, Nelson embezzled cash from cash deposits from the Federal Reserve Bank and made false entries in the books and records of the bank in order to conceal the embezzled cash. Nelson also engaged in a scheme in which successive cash purchases were misapplied to prior cash purchases in order to hide the embezzlement of money.

A federal indictment is an accusation by a grand jury and a defendant is entitled to the presumption of innocence unless proven guilty. If convicted, however, counts carry a maximum statutory penalty of 30 years in federal prison and a $250,000 fine. Restitution may also be ordered.

The Federal Deposit Insurance Corporation Office of Inspector General and Federal Bureau of Investigation are investigating the case. Deputy Criminal Chief Assistant U.S. Attorney J. Nicholas Bunch is in charge of the prosecution.

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