Lafayette Man Pleads Guilty to Misapplication of Bank Funds

Defendant Embezzled a Total of $231,000 from Chase Bank Customers

LAFAYETTE, LA—Christopher P. Smith, 30, of Lafayette, Louisiana pleaded guilty to one count of misapplication of bank funds, Acting United States Attorney William J. Flanagan announced today. The plea was entered in United States District Court in Lafayette before U. S. District Judge Rebecca F. Doherty.

Smith was employed at JP Morgan Chase Bank (Chase Bank) as a personal banker at Chase Bank’s Southpark Branch in Lafayette, Louisiana and was responsible for opening and managing customers’ accounts. During today’s court proceeding, Smith admitted to making unauthorized withdrawals from customer accounts without the customer’s knowledge or consent, and using the money for his personal use. When customers called Smith to question the withdrawals, the defendant would then make unauthorized withdrawals from other customers’ accounts and pay back some or all of the money taken. Smith made unauthorized withdrawals from September 2007 through August 2009, which totaled $231,000.00. All customer accounts have been reimbursed by the bank.

Smith faces a maximum penalty of 30 years in prison, a $1,000,000 fine, or both. The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Kelly P. Uebinger.