EAST ST. LOUIS — An Alton woman has pleaded guilty to bank fraud that targeted senior citizens, according to the U.S. Attorney’s Office.
In a press release, U.S. Attorney Stephen R. Wigginton said Cynthia L. Palmer, 45, of Alton pleaded guilty Tuesday, Sept. 2, to bank fraud in a scheme to defraud and embezzle from U.S. Bank.
Palmer was employed by U.S. Bank as a universal banker at the Bethalto Airport Branch in Bethalto. Palmer admitted she made unauthorized debits of $105,827 on customers’ accounts, targeting victims age 65 to 96.
The bank fired Palmer December 12, 2013.
Palmer faces a prison sentence of up to 30 years, a fine of up to $1 million, and up to 5 years’ supervised release after serving her sentence and mandatory restitution. Sentencing is scheduled for Monday, Dec. 15.
The prosecution is the result of an investigation conducted by the U.S. Secret Service and U.S. Bank. The case is being prosecuted by Assistant U.S. Attorney Norman R. Smith.