February 2019-Fredericksburg, TX
A federal judge in San Antonio has sentenced 52-year-old Stacey A. Sanders of Fredericksburg, TX, to 27 months imprisonment. The former office manager of Memorial Presbyterian Church, located in Fredericksburg was sentenced for bank fraud after she was caught writing and signing unauthorized checks on the church’s bank accounts.
Along with her prison term, U.S. District Judge Xavier Rodriguez has ordered Sanders to pay more than $400,000 in restitution. She will pay $20,219 to Security State Bank and $400,087 to Memorial Presbyterian Church. She will also be placed on supervised release for 5 years following her sentence.
To conceal her activity, Defendant wrote various false statements on the checks’ memo line, such as “social security offset,” “additional payroll,” or “cleaning supplies.”
“It’s hard to believe that this has to be said, but stealing from houses of worship is really, really wrong. When you defraud a bank to do it, it can become a federal case,” stated U.S. Attorney Bash.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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