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The United States Attorney's Office

Southern District of Texas

News Release

 

 

 

Jan. 10, 2008

FORMER BANK V.P. SENTENCED TO PRISON

(CORPUS CHRISTI, Texas) – Sheri Lynn Yarbrough, 41, a former Vice-President of Commercial State Bank, was sentenced to more than five years imprisonment following her convictions for embezzlement by a bank officer and money laundering, United States Attorney Don DeGabrielle announced today.

At a hearing before Chief United States District Judge Hayden Head, Sheri Lynn Yarbrough was sentenced to 63 months in federal prison for each count, to be served concurrently. Following her release from prison she will remain under court supervision for five years. Yarbrough was also ordered to pay restitution in the amount of $525,710.98.
 
Yarbrough previously pleaded guilty to one count of embezzlement by a bank officer and one count of money laundering. During her guilty plea, the defendant admitted that while she was employed by Commercial State Bank in Sinton, Texas, she stole more than $525,000 from customer certificates of deposit. She further admitted she moved much of the stolen money through multiple bank accounts in an effort to disguise the source of the funds. Commercial State Bank previously provided full restitution to all depositors whose accounts were affected.
 
The case was investigated by agents from the Internal Revenue Service, the FBI and the Federal Deposit Insurance Corporation. The case was prosecuted by Assistant United States Attorney Robert D. Thorpe Jr.   

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