A former employee of Frost Bank in San Antonio would be permanently barred from working in a federally insured financial institution under a notice filed by the Federal Reserve Thursday for misappropriating money from a customer’s safe deposit box, the agency said.
According to the notice, Raysol Villalobos – also known as Ray Galvan – would be barred from employment in the banking industry. A former personal banker at Frost Bank, Villalobos allegedly misappropriated about $30,000 from a bank customer’s safe deposit box, the Fed said in a release.
The Fed further alleged that Villalobos’ conduct “constituted violations of law and unsafe or unsound banking practices.”
Villalobos was also fined $9,819 and ordered to pay restitution of $35,000 to Frost Bank.
Federal Reserve Board seeks to permanently bar former employee of Frost Bank from employment in banking industry