In Nine Years, Bank of America Manager Pamela Cobb Stole $2 Million From Customers. Now, She's Going to Prison.

Categories: Crime

TrustMeImaBanker.jpg
Via.
Pamela Kay Cobb was systematic about how she stole. The branch manager of the Bank of America in Red Oak targeted only those customers with whom she had a longstanding relationship. When she took money from their accounts, she would fill out a fake withdrawal slip, sometimes forging a customer's signature, and explain to her tellers that the account holder was waiting in her office or had requested the withdrawal.

Never did Cobb, 30, take more than $10,000 in a single transaction, the threshold above which banks are required to file a report with federal regulators. To further cover her tracks, she would block victims from receiving their bank statements. If a customer complained that money was missing, she refund the balance by making a transfer from someone else's account. Tellers and customers trusted her; she was the boss, after all.

Her care paid off, for a while at least. The thefts, which started in 2002, went unnoticed for years and padded her income nicely. She bought herself some diamond jewelery with the money, plus a piece of lakefront property in Granbury, and a 1967 Ford Mustang. All told, she pocketed more than $2 million of her customers' money.

Eventually, though, people became suspicious. That much money doesn't simply disappear, and the feds began investigating last year. In March, Cobb pleaded guilty to one count of bank fraud.

She was sentenced yesterday by U.S. District Judge Terry Means to 63 months in prison and ordered to pay more than $1.1 million in restitution to Bank of America where, unsurprisingly, she no longer has a job.


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20 comments
BigBobBoss4
BigBobBoss4

@Dallas_Observer Bank of America is the devil incarnate I pay and pay my mortgage on time for yrs and the bloodsuckers keep digging for more

TexMarine
TexMarine

This does not surprise me. The last time I made the mistake of doing business with BofA it cost me dearly, as one of the tellers in my supermarket branch decided to print fake checks with my information, and her home address.  Needless to say I got my money back and she eventually got fired.

CJ Dylan
CJ Dylan

Shoulda quit before she got caught? Guess there's never quite enough.

El De
El De

not one bit shocking

isabel1170
isabel1170

When will CEO Brian Moynihan and the other executive crooks at Bank of America go to prison for illegally stealing thousands and maybe even millions of homes? Just sayin'.

Uncle_Bud
Uncle_Bud

<i>The branch manager of the Bank of America in Red Oak</i>

 

She was branch manager of the BoA in River Oaks near Fort Worth.

JFPO
JFPO

Why is it that the only banksters that go to prison are the small time thieves (like this one) or the ones that rob the 1% (Madoff)? What about the ones who stole my (and many of your) 401k funds?

ThePosterFormerlyKnownasPaul
ThePosterFormerlyKnownasPaul topcommenter

Ummm ... she wasn't stealing the customer's money, she was stealing the bank's money.

 

When and if a customer complained, someone else should have noticed.

 

This is not any different in my mind than the TARP bailout that Banksters of America received.

Daniel
Daniel

Sounds like she would have gotten away with it had she not been quite so greedy. Which is usually the case where embezzlement is concerned.

ObserverHatesFacts
ObserverHatesFacts

LOL. Steal 2 mil. Buy baubles and property in Granbury... smart and classy.

Myrna.Minkoff-Katz
Myrna.Minkoff-Katz topcommenter

It's minimally interesting that some outlets report her as 30 years old, and others 40 years old.  Also, she had two aliases, Pamela Crabbe, and Pamela Engles.

TheCredibleHulk
TheCredibleHulk topcommenter

She was transferring $$$ from other customer's accounts to cover her tail for 10 years and nobody at the bank thought anything suspicious was going on?

 

I shoulda' been a banker.

scottindallas
scottindallas topcommenter

 @Daniel thought you were about to launch into a "Scooby Doo" rif

 

"Sounds like she would have gotten away with it had..." n't run in to those pesky kids.

DirtyP1
DirtyP1

 @TheCredibleHulk

 ah, this is peanuts to them. They make it up in atm fees and other stupid fees. Noone noticed because noone was ever paid to notice.

JFPO
JFPO

 @ObserverHatesFacts  @JFPO Not sure what your point is. Are you defending these criminals? You're not just a racist asshole, you're also stupid.

ObserverHatesFacts
ObserverHatesFacts

 @JFPO   "Boring angry white dinosaur" says the impotent liberal filled with rage at amorphous thieves and fictitious theft from fictitious retirement accounts.

JFPO
JFPO

@ObserverHatesFacts 2 million is small time compared to what was stolen from our retirement accounts. As for small brains...that would be your racist brain. You're just a boring, angry white dinosaur.

ObserverHatesFacts
ObserverHatesFacts

 @JFPO Since when is 2 million dollars "small time?" Small time is Carl's JR. Or your brain.

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