Former bank executive arraigned in fraud case
December 3, 2009
Total Loss:
$179,000
A former Seamen's Bank executive was arraigned in Superior Court yesterday morning on charges that she obtained $179,000 in fraudulent loans from her employer. Kathleen Morris, 34, of Truro pleaded not guilty to 15 counts each of forgery of a promissory note, uttering false writing and obtaining credit over $250 by a false financial statement, as well as charges of larceny over $250 by a single scheme and embezzlement from a bank. Morris, who served as the bank's vice president of commercial lending, allegedly set up false loans with forged signatures in the names of seven friends and relatives. None of the people knew about the scam, according to court records.
Source:
Cape Cod Times
Posted in:
Internal Fraud