Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bank Executive Allegedly Steals $411,000, Splurges on Travel, Shopping Sprees and Home Renovations

Bank Executive Allegedly Steals $411,000, Splurges on Travel, Shopping Sprees and Home Renovations

Daily HodlDaily Hodl2025/11/28 16:00
By:by Henry Kanapi

A former US bank executive is accused of using the lender’s money to pay for personal expenses, triggering hundreds of thousands of dollars in losses.

The Office of the Comptroller of the Currency (OCC) has issued a prohibition order against Amy Jo Reid, who worked as a senior vice president and director of purchasing at Associated Bank between May 2018 and May 2024.

According to the OCC, Reid used Associated Bank’s corporate cards for her own benefit, including paying for property taxes, personal travel, home renovation and online shopping sprees. The regulator says Reid produced fake documents and information to dupe Associated Bank into paying for the expenses.

Prosecutors say that the bank lost $411,000 because of Reid’s scheme.

“By reason of the foregoing conduct, Respondent engaged in violations of law. Respondent’s misconduct resulted in financial gain to Respondent and loss or risk of loss to the Bank. Respondent demonstrated personal dishonesty.”

The OCC’s prohibition order bars Reid from working or participating in the activities of any FDIC-insured bank, the Federal Housing Finance Agency and any Federal Home Loan Bank. The ex-Associated Bank senior vice president has consented to the provisions of the order without admitting or denying the OCC’s allegations.

Associated Bank is the 50th-largest commercial bank in the US, with $44.394 billion in assets, according to the Federal Reserve.

Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

OracleX Global Public Beta: Restructuring Prediction Market Incentive Mechanisms with "Proof of Behavior Contribution"

OracleX is a decentralized prediction platform based on the POC protocol. It addresses pain points in the prediction market through a dual-token model and a contribution reward mechanism, aiming to build a collective intelligence decision-making ecosystem. Summary generated by Mars AI The content of this summary is produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

MarsBit2025/11/30 17:21
OracleX Global Public Beta: Restructuring Prediction Market Incentive Mechanisms with "Proof of Behavior Contribution"

Bitcoin is not "digital gold"—it is the global base currency of the AI era

The article refutes the argument that bitcoin will be replaced, highlighting bitcoin's unique value as a protocol layer, including its network effects, immutability, and potential as a global settlement layer. It also explores new opportunities for bitcoin in the AI era. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively improved.

MarsBit2025/11/30 17:20
Bitcoin is not "digital gold"—it is the global base currency of the AI era