Written by The Business Journal Staff
A former Bank of America branch manager in Fresno pleaded guilty to embezzling at least $100,000 on Monday.
On several occasions in 2013, Sylvia Ochoa, 34, entered the vault at the Bank of America branch on Tulare Street near Cedar Avenue and removed cash without authorization after employees left for the day, according to U.S. District Attorney Phillip A. Talbert.
She spent the money on shopping sprees for her and her boyfriend, purchasing designer handbags and even a truck with $24,000 in cash. She also caused Bank of America to electronically credit accounts she set up, including $69,000 she transferred into her boyfriend’s bank account.
Ochoa is scheduled to be sentenced by U.S. District Judge Dale A. Drozd on July 11. She faces a maximum statutory penalty of 30 years in prison and a $1 million fine.