Former Bank Executive Admits Embezzling from Bank of America

LUBBOCK, TX—Donnie Wright, 53, of Lubbock, Texas, appeared yesterday in federal court and pleaded guilty before U.S. District Judge Sam R. Cummings to one count of embezzlement of funds by a bank employee. Wright, who remains on bond, faces a maximum statutory penalty of 30 years in federal prison, a $1 million fine, and restitution. Judge Cummings ordered a presentence investigation report with the sentencing date to be set after the completion of that report. Today’s announcement was made by U.S. Attorney Sarah R. Saldaña of the Northern District of Texas.

According to documents filed in the case, Wright was employed by Bank of America in Lubbock as a branch manager at the 5144 82nd Street location. The factual resume states that Wright was a member of the Board of Deacons and Trustee at Community Baptist Church (CBC) in Lubbock. Beginning in May 2006 and continuing to January 24, 2010, Wright used his position as a Bank of America employee to embezzle funds owned by CBC and entrusted to the custody and care of Bank of America. He employed a variety of methods to embezzle the funds, including embezzling from CBC’s Certificates of Deposits held at the bank; making cash withdrawals from CBC’s accounts using debit (withdrawal) tickets; and fraudulently drawing checks on CBC’s checking account.

The case was investigated by the FBI and the Lubbock Police Department. Assistant U.S. Attorney Amanda R. Burch is in charge of the prosecution.