A routine nationwide accounts payable audit conducted by Citibank uncovered a Maryland assistant bank manager's embezzlement.
Norma Talley-Maccow recently pleaded guilty to misappropriating more than $50,000 from a Citibank branch in Montgomery Village, Maryland, where she worked. The embezzlement occurred between January 2009 and March of last year.
Talley-Maccow conducted the scheme by making several transactions per month that moved small amounts of the bank's funds into accounts belonging to her or a relative. With the exception of one $1,500 transaction, the amounts ranged from $20 to $600. The theft was revealed when the AP audit highlighted that her teller box was missing more than $30,000, and a recovery audit was conducted to determine where the money went.
After discovering the embezzlement, the bank froze Talley-Maccow's account and was able to recover nearly $5,000. Prosecutors are calling for her to repay the remaining money as restitution.
United Kentucky Bank also faced embezzlement in its ranks earlier this year, according to the Northern Kentucky News. Its former president pleaded guilty in August to stealing more than $2.2 million of its funds.