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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of North Carolina

FOR IMMEDIATE RELEASE
Tuesday, September 12, 2017

Yadkin Bank Branch Manager Pleads Guilty to Bank Fraud

RALEIGH – The United States Attorney for the Eastern District of North Carolina, John Stuart Bruce, announced that today in federal court, LIHN VAN NGUYEN, 39, of Fuquay-Varina, North Carolina, pleaded guilty to Bank Fraud. Under the terms of a plea agreement, NGUYEN faces up to 30 years in prison, $1,000,000 in fines, and 5 years of supervised release. Under additional terms discussed in court, NGUYEN also agreed to make restitution to victims, and to forfeit the proceeds of his offense.

 

According to the Criminal Information and evidence discussed in open court, between July of 2015 and February of 2016, NGUYEN was Manager for Retail and Business Banking at Yadkin Bank’s Preston Branch in Cary and Creedmoor Branch in Raleigh, within the Eastern District of North Carolina.

 

In or about 2014, L.S. was a customer of Yadkin Bank, where he maintained a checking account. or about June of 2015, NGUYEN established a line of credit at Yadkin Bank on behalf of L.S. L.S. did not desire to withdraw funds from the line of credit, but rather intended to only establish the credit to have funds available if needed.

 

On or about July 28, 2015 at 2:48 P.M., without knowledge or consent from L.S., NGUYEN established an “Online Banking Account” in the name of L.S. NGUYEN caused notifications regarding withdrawals from the account to be directed to an email address belonging to VAN NGUYEN, rather than L.S.

 

Beginning in or about July 29, 2015, and continuing through December 15, 2015, without knowledge or consent from L.S., NGUYEN caused disbursements from the Online Banking Account for the benefit of himself. Video surveillance showed NGUYEN depositing L.S.’s funds into NGUYEN’s personal accounts. The evidence further showed that NGUYEN used the funds to make mortgage payments and for other personal expenses.

 

Yadkin Bank was unaware of NGUYEN’s conduct at the time of the fraud, but terminated NGUYEN after it was discovered.

 

NGUYEN is presently scheduled to be sentenced on November 27, 2017.

 

The investigation of this case was conducted by the Federal Bureau of Investigation. Assistant United States Attorney William M. Gilmore, of the Economic Crimes Division, of the United States Attorney’s Office for the Eastern District of North Carolina, represents the United States.

Topic(s): 
Financial Fraud
Updated September 12, 2017