7-5-13 Former bank manager pleads guilty to embezzlingLatest Headlines Friday, July 5th, 2013 Would you like to receive e-mail alerts when we have breaking news? Click here!
CLARKSBURG —United States Attorney William J. Ihlenfeld II, has announced Deborah D. Radcliff, 51, of Weston, a former branch manager of the Weston branch of Huntington National Bank entered pleas of guilty on July 3, 2013, before Magistrate Judge John S. Kaull. Radcliff entered pleas of guilty to 1 count of “embezzlement by a bank employee” and 1 count of “structuring.”
During the period July 1, 2011, to Nov. 5, 2012, while serving as the branch manager, Radcliff embezzled and misapplied $247,249.88 from depositors’ accounts and engaged in acts of structuring to cause the bank to fail to file a Currency Transaction Report for currency transactions of $10,000 or more.
To execute the scheme, Radcliff utilized her position as branch manager to issue or direct to be issued cashier’s checks from funds withdrawn from depositors’ accounts issued in the name of the depositor.
Radcliff would take possession of the cashier’s check, forge the name of the depositor and cash the checks for her own personal benefit. The ages of the alleged victims ranged from 56 to 90 years, with all but one alleged victim 64 years or older.
As a branch bank manager, Radcliff was aware of banking rules and regulations requiring banks to file reports for single financial transactions of more than $10,000. To conceal her embezzlement from the customer’s account, she would have multiple cashier’s checks issued for less than $10,000, which she would cash on different days.
On one of those instances, Radcliff withdrew $16,407.96 from an 84-year-old customer’s account on May 2, 2012, splitting the embezzlement into 2 separate cashier’s checks in the amount of $8,203.98, then cashed 1 of the checks that day and the other 5 days later.
Radcliff, who is free on bond pending sentencing, faces up to 40 years imprisonment, a $1,500,000 fine and an order of restitution of $247,249.88.
Huntington National Bank has restored all of the customers’ money to their accounts. The case was prosecuted by Assistant United States Attorney John C. Parr and investigated by the Federal Bureau of Investigation and Internal Revenue Service, with cooperation from the Huntington National Bank’s Corporate Security office.