INDIANAPOLIS — A branch manager at an Indianapolis credit union has been indicted for bank fraud after she reportedly withdrew more than $350,000 from customer accounts for personal use.
According to the indictment, filed last month in the United States District Court for the Southern District of Indiana, Teresa Palmer has been charged with four counts of bank fraud, each related to separate withdrawals from customers.
Palmer, a branch manager at a Credit Union 1 branch in Indianapolis, reportedly authorized withdrawals from customers at the credit union without their consent, mainly targeting customers who were “elderly and unable to regularly monitor their accounts.” This scheme started around January 2021 and continued until December 2022.
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The indictment alleges that Palmer would fraudulently issue cashier’s checks from accounts that were made payable to others through forged signatures. Palmer then reportedly cashed the checks or directed others to cash the checks…