Cops highlight string of bank employees accused or convicted of stealing millions

A former employee at Victoria Mutual Building Society (VMBS) is in police custody facing criminal charges for allegedly defrauding more than $9 million from the financial institution.

Christopher Russell, 36, former accounting support officer at VMBS, was charged last Friday with breaches of the Cybersecurity Act and larceny as a servant by detectives at the police Fraud Squad.

He resigned last Tuesday, one day before he was arrested at his home in St Andrew, sources revealed.

Russell is the latest in what police investigators say is a string of bank employees who have either been convicted or accused of stealing millions from their employers.

It is alleged that between August 30 last year and May 20 this year, Russell used his position to transfer a total of $9.2 million from a VMBS account to his personal accounts held at the building society and other financial institutions.

He will remain in custody until his first court appearance, scheduled for August 4, and could face additional charges, sources disclosed.

Arsenio Johnson, a former retail support officer at National Commercial Bank (NCB), is serving a one-year prison sentence for stealing nearly $6 million from the financial institution.

The sentence was imposed in the Kingston and St Andrew Parish Court on July 8, weeks after Johnson pleaded guilty to the charge of larceny as a servant.

Evidence presented in court revealed that over a 30-month period starting in January 2020, he fraudulently transferred a total of $5.8 million from NCB’s suspense account to another account he controlled.

The funds were later transferred to his personal account. Johnston has returned the cash.

In June, Winsome Smith, a former customer service representative at Scotiabank Jamaica, was arrested and charged for allegedly stealing $1.4 million from a customer’s account.

She has been charged with unauthorised access to computer data and simple larceny.

The police were alerted to Smith’s alleged actions after the customer unsuccessfully tried to withdraw cash from his account on May 9 this year.

He reported the issue to the bank and Smith reportedly replaced the man’s bank card and assisted him in withdrawing $100,000.

Smith reportedly replaced the man’s card a second time, after he again encountered a similar hiccup when he attempted to do another withdrawal.

It was later discovered that the balance in the account was less than what it should be, and an investigation revealed that Smith withdrew $1.4 million from the account, investigators alleged.

livern.barrett@gleanerjm.com