FORMER WACHOVIA EMPLOYEE CHARGED WITH EMBEZZLEMENT
TALLAHASSEE, FLORIDA – Blake Mallard, 29, of Tallahassee, Florida, was arraigned today on federal charges of bank fraud, embezzlement, and aggravated identity theft, announced United States Attorney Pamela C. Marsh, Northern District of Florida.
The 26-count indictment filed yesterday in United States District Court in Tallahassee alleges that, while employed as a personal banker at Wachovia between 2008 and 2010, Mallard embezzled approximately $29,000 from general ledger accounts of the bank and approximately $31,000 from the certificate of deposit account of a Wachovia customer. The indictment states that Mallard fraudulently opened approximately 40 bank accounts using the names and personal identifying information of existing Wachovia customers without their knowledge or consent. He is also alleged to have fraudulently opened approximately 25 accounts in wholly fictitious names. According to the indictment, Mallard used these accounts to funnel money from the general ledger accounts as well as from the Wachovia customer’s CD account as a means of obtaining cash, cashier checks, and funds to pay his own personal expenses and those of others.
Trial is scheduled for May 16, 2011, before Chief United States District Judge Stephen P. Mickle.
If convicted, defendant faces a maximum sentence of 30 years’ imprisonment on each count of bank fraud and embezzlement. He also faces a mandatory consecutive sentence of 2 years’ imprisonment if convicted of aggravated identity theft.
U.S. Attorney Marsh praised the work of the United States Secret Service and the Tallahassee Police Department, whose joint investigation led to the charges in the case.
The case is being prosecuted by Assistant U.S. Attorney Karen Rhew-Miller.
An indictment is merely a formal charge by the grand jury. Every defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.
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