A former Yadkin Bank branch manager pleaded guilty to bank fraud on Tuesday, after being accused of stealing money from a Yadkin customer, according to a filing with the Department of Justice.
Lihn Van Nguyen, 39, was a manager for retail and business banking at Yadkin Bank’s Preston branch in Cary and Creedmoor branch in Raleigh, when the alleged theft took place, according to court records.
In 2015, Yadkin Bank customer, identified as “L.S.,” maintained a checking account with the bank, but did not desire to draw funds from the line of credit, but rather establish the credit to have funds available if needed.
In late July 2015, Nguyen established an “Online Banking Account” in the name of L.S., without the customer’s knowledge and caused notifications regarding withdrawals from the account directed to an email address belonging to Van Nguyen, rather than L.S.
Continuing through December, without the knowledge or consent of L.S., Nguyen retracted money from the customer’s online account into his personal account, which was caught on surveillance video.
Nguyen used the stolen money for mortgage payments and other personal expenses.
Yadkin Bank was unaware of Nguyen’s conduct at the time of the fraud and terminated him immediately upon discovery.
Under the terms of the plea agreement, Nguyen faces up to 30 years in prison, $1,000,000 in fines and five years of supervised release.
Additional terms discussed by the court will require Nguyen to also make restitution to the victims and to forfeit the proceeds of his offense.
Nguyen is scheduled to be sentenced on Nov. 27.