$69,040 Drained From Five Customers at Major US Bank, FDIC Blames Employee for “Unsafe or Unsound Banking Practices’

A Truist Financial institution worker allegedly manipulated the system to steal a wad of money from the financial institution’s prospects with out their data and consent.

In a brand new submitting, the Federal Deposit Insurance coverage Company (FDIC) says Alexi J. Rearick has been caught committing financial institution fraud at a Truist department in Charlotte.

The FDIC alleges that Rearick cashed 13 fraudulent checks value $69,040 from 5 buyer accounts, forcing the financial institution to soak up the losses after reimbursing victims for losses.

“Defendant engaged in and took part in unsafe or unsound banking practices in reference to the Financial institution. Defendant’s practices prompted the Financial institution to endure monetary loss and resulted in monetary achieve or different monetary profit to Defendant.

Defendant’s practices concerned private dishonesty and had been demonstrated Defendant’s willful and continued disregard for the protection and soundness of the Financial institution.”

The regulator has barred Rearick from working at or collaborating within the actions of any FDIC-insured financial institution, holding firm or affiliate with out prior approval.

The FDIC says the ban order will stay enforceable till a regulator decides to droop, modify, terminate or put aside the provisions in writing.

Rearick has agreed to the phrases of the FDIC’s prohibition order with out admitting or denying the theft, which occurred between December 20, 2021 and January 13, 2022.

The regulator added that the order doesn’t forestall different authorities companies from taking authorized motion towards Rearick if deemed applicable.

Truist Financial institution is the ninth-largest business financial institution within the U.S., with greater than $535 billion in property, in keeping with the Federal Reserve.

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