Worry about Bank Robbers? Don’t Forget the VPs Who Can Steal Much More

A former vice president for North Carolina-based Wachovia Bank faces federal charges that he was at the core of a conspiracy that fleeced the company of $11 million. Attorneys for 47-year-old suspect of Mooresville did not immediately respond to requests for comments yto mthe Washington Post. Federal prosecutors have charged the suspect with mail fraud and tax evasion. Authorities said the scam went on for nine years. Two other men also have been charged in the scam. An indictment accuses the main suspect of getting the two other men and some others to turn in fake invoices for goods and services the bank never received. Attorneys for the two other suspects said they will plead guilty in a deal with prosecutors. The bank declined comment. Sometimes a corporation’s VIPs can do more damage than petty criminals. Got a comment? Email zaludreport@bnpmedia.com