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Former Bank Vice President Sentenced to Federal Prison for Embezzling $1.2 Million

U.S. Department of Justice U.S. Attorney's Office Western District of Texas

Johnny Sutton, U.S. Attorney

FOR IMMEDIATE RELEASE Shana Jones, Special Assistant

Daryl Fields, Public Information Officer

(210) 384-7440 February 3, 2006


United States Attorney Johnny Sutton announced that Rosa Sullivan, 49, of San Antonio, Texas, will spend 46 months in federal prison for stealing $1.2 million from the Bank of Sierra Blanca.

In Midland on Wednesday, United States District Judge Robert Junell sentenced the former bank Vice President and cashier to the prison term. He also ordered that Sullivan pay $884,473 restitution to the Federal Deposit Insurance Corporation and be placed under supervised release for a period of five years after completing her prison term.

On October 13, 2005, Sullivan pleaded guilty to one count of bank fraud and one count of misapplication by a bank officer or employee. From 1995 to November 14, 2001, Sullivan illegally siphoned the money and concealed her actions from bank auditors and examiners by making numerous false entries into the bank records. The Bank of Sierra Blanca was closed and placed into receivership on January 18, 2002. The Court determined the loss was a factor in the failure of the bank.

This case was investigated by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation - Office of Inspector General. Assistant United States Attorney Jim Blankinship prosecuted this case on behalf of the government.


Last Updated 2/9/06