Turns out, she spent at least part of that time misdirecting more than $4 million dollars into her own personal bank accounts.
In August, she pleaded guilty to “felony misapplication by a bank employee.” She was sentenced to 78 months in prison, to be followed by four years of supervised probation. She must also make restitution in the amount of $5.8 million.
Under federal banking rules, Nieto is now barred for life from working in the banking industry.
Note: Even trusted, long-term employees can be stealing from the company. In fact, they may know your system’s flaws better than anyone else. Always have financial records reviewed by more than one person internally and regularly by an outside auditor.
- Remove open job listings if you don't plan to fill them
- Check for retaliation before disciplining employee who requested ADA accommodations
- When filing lawsuits, employees not entitled to 'Two bites at the apple'
- Include contract disclaimers in your handbook
- Bizarre, nonsensical lawsuit? Vigorous response still required