Published November 20, 2014
Authorities say a former Bank of America (BOA) Texas branch manager accused of stealing more than $2 million from customers' accounts has pleaded guilty.
Pamela Kay Cobb is facing up to 30 years in federal prison for the crime, which spanned nearly 10 years.
According to a press release from U.S. Attorney Sarah Saldana, the 40-year-old worked at the Bank of American branch in the Fort Worth suburb of River Oaks. As branch manager she had full access to customers' bank accounts.
Cobb admitted she fraudulently used customers' names and bank account numbers to fill out withdrawal slips and withdrew customers' cash through her tellers, sometimes telling them it was for the customer and occasionally saying the customer was waiting in her office.
The tellers did not question the legitimacy of the transactions because they trusted Cobb, who later admitted using the stolen money for personal expenses like vacations, clothing, jewelry and the purchase of land.