Fed prohibits former Georgia banker following charges of embezzlement

A former Georgia banker charged with embezzling more than $69,000 from her bank was prohibited from serving at federally insured financial institutions after agreeing to a decree from the Federal Reserve, the agency said Thursday.

According to the prohibition order issued by the Fed, Angela Garcia, a former worker at Synovus Bank of Columbus, Ga., consented to an order of prohibition brought by the Fed. The agency said Garcia, between 2020 and 2021, while employed as a senior vice president and residential loan servicing director at the bank, embezzled $69,039 from a bank general ledger account. The order alleges that she then deposited the funds in accounts belonging to her relatives and made fraudulent entries in the bank’s records regarding these transactions.

Garcia no longer is employed by the bank, the Fed said.

In addition to being prohibited from ever again working at a federally insured bank or credit union (without prior approval by the Fed and the regulator overseeing the financial institution), Garcia also agreed to reimburse the bank in full for its loss.

Federal Reserve Board issues enforcement action with former employee of Synovus Bank