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Press Release

Former Bank Employee Sentenced To Prison For Bank Fraud

For Immediate Release
U.S. Attorney's Office, Southern District of Illinois

Cynthia L. Palmer, 45, of Alton, Illinois, was sentenced to serve twenty-one months in prison as a result of her conviction for bank fraud in a scheme to defraud and embezzle from U.S. Bank, the United States Attorney for the Southern District of Illinois, Stephen R. Wigginton, announced today. Palmer was additionally ordered to serve two years of supervised release following her release from prison and was ordered to pay restitution in the amount of $105,827.62.

The conviction is the result of Palmer's conduct while employed by U.S. Bank at the Bethalto Airport Branch in Bethalto, Illinois as a Universal Banker. Palmer made unauthorized debits on customer’s accounts and in so doing principally targeted older individuals with customers' ages ranging from 65 to 96. Palmer was terminated by U.S. Bank effective December 12, 2013. U.S. Bank promptly made all of the victims whole and thereby sustained the entire loss.

The successful prosecution is the result of an investigation conducted by the U.S. Secret Service with the assistance of U.S. Bank. The case is being prosecuted by Assistant United States Attorney Norman R. Smith.

Updated April 28, 2015