NEWS RELEASE
UNITED STATES ATTORNEY'S OFFICE
WESTERN DISTRICT OF VIRGINIA
Julia C. Dudley Acting United States Attorney Brian McGinn Public Affairs Specialist |
BB&T Building 310 1st Street, S.W., Room 906 Roanoke, Virginia 24011 (540) 857-2974 FAX (540) 857-2179 |
October 28, 2008
BANK EMPLOYEE INDICTED ON FRAUD,
MONEY LAUNDERING CHARGES
Acting United States Attorney Julia C. Dudley announced today that Rebecca Dawn Long, age 35, of Jonesville, Virginia, was indicted by a federal Grand Jury sitting in the United States District Court for the Western District of Virginia in Abingdon, on charges that she embezzled from and defrauded a financial institution of $487,685 and created false documents in an attempt to keep that fraud from being discovered.
Long was charged in a four-count indictment with bank fraud, bank embezzlement, money laundering, making a false statement on a loan document and engaging in a monetary transaction in criminally derived property of a value greater than $10,000. If convicted on all counts, the maximum penalty faced by the defendant is 120 years imprisonment and/or a fine of over $3,000,000.
“The United States Attorney’s Office continues to dedicate time and resources to the investigation and prosecution of all individuals who attempt to undermine our financial system,” Acting United States Attorney Julia C. Dudley said today. “Investigations like this one are critical in maintaining the public’s trust in our banking system.”
According to the indictment, between December 2004 and September 2008, Long, an employee of The Peoples Bank, devised and executed a scheme to obtain money from that financial institution by establishing a line of credit under a fictitious name. After establishing the false credit line, Long allegedly withdrew $487,685.23.
The indictment also charges that Long created and faxed a fraudulent loan document to an office of The Peoples Bank for the purposes of disguising the fact that she had embezzled over $487,000 from that financial institution.
The investigation of this case was conducted by Federal Bureau of Investigation Special Agent Thomas Snapp. Assistant United States Attorney Randy Ramseyer is prosecuting the case for the United States
A Grand Jury indictment is only a charge and not evidence of guilt. The defendant is entitled to a fair trial with the burden on the government to prove guilt beyond a reasonable doubt.