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Vault to Cashbox to Pocket – Raymond Drumsta – Medium

Queensbury Woman Admits to Bank Embezzlement Scheme

ALBANY, N.Y. — A former KeyBank employee may have traded the teller’s cage for prison bars after confessing to stealing nearly a half-million dollars from the bank’s Queensbury and Malta, N.Y. branches between 2013 and 2017.

Caitlin Kenney, of Queensbury, pleaded guilty to embezzlement, theft and misapplication by a bank employee here on Jan. 9, 2019. She’s facing up to three decades in prison and a maximum million-dollar fine, according to her plea agreement.

That document details the scheme that Kenney — a head teller — employed to embezzle the money, beginning on Sept. 13, 2013.

While working at the bank’s Queensbury branch that day, Kenney logged into the bank’s electronic accounting system and made entries to fatten the balance of cash box #1 — which held only $14,532.99 — to a total of $408,913.99.

She then lightened the box balance by $408,784. 83, according to the document.

“(Kenney) stole all but $129.99 of the cash that was in, and subsequently transferred to, cashbox #1,” her plea agreement states.

She continued to play her shell game about three years later, but it appears that KeyBank was beginning to catch on — and catch up with her.

“On Oct. 6, 2016, in an attempt to conceal her theft, (Kenney) made a false entry in KeyBank’s electronic accounting system reflecting that $408,784. 83 in cash was transferred from cashbox #1 to the vault at the Queensbury branch, and then from the vault to another cashbox,” the document states. “However (she) did not transfer any cash, and a subsequent audit by Keybank revealed that $408,784. 83 was missing from the Queensbury branch.”

That same month, the bank transferred Kenney to the Malta, N.Y. branch. Two months later, Kenney began to repeat her crime — using her access to the bank’s electronic accounting system to transfer a total $75,000 from the vault to a cashbox, which she then stole, between Dec. 13, 2016 and Feb. 8, 2017.

Kenney is free on her own recognizance pending her sentencing on May 13.

This story originally appeared on www.empireCrime.com


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