Woman embezzled more than $12m from the Bank of America to fund gambling habit - Saturday 12th of March 2005

A woman has been sentenced to 7 years in prison after embezzeling more than $12m fro the Bank of America. According to The Mercury News a woman has been sentenced to 7 years in prison for embezzlement. She embezzled more than $12m from the Bank of America. "Michele Serrao of Vacaville was convicted in June along with co-defendant Bryan Douglas Rosenquist, 42, of conspiracy, bank fraud, money laundering and tax evasion." "The two defendants were supervisors at a Loomis Fargo's vault in Richmond that contained millions of dollars in cash. Over a three-year period, they embezzled $12,256,000 in cash from Bank of America to support their gambling at casinos, the purchase of thoroughbred race horses, jewelry and cars, according to prosecutors."

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