Woman convicted in massive bank fraud sentenced
Published Monday, December 16, 2013 4:59PM MST
A former Royal Bank of Canada employee in Hinton has been sentenced, after she was convicted in a massive fraud.
Earlier in the year, RCMP charged Michelle Sparrow, 42, with three counts of fraud over $5,000, and one count of theft over $5,000.
She was charged in connection to a massive scheme that saw RBC defrauded of more than $1.1 million while she worked for the bank’s Hinton branch between May 2001 and August 2007.
It’s believed she used a sophisticated system involving more than 75 accounts, including personal, business, loan and credit cards – with funds from fake and existing clients.
On Monday, RCMP said Sparrow had been convicted of two counts of fraud on November 27.
She was sentenced to serve three years behind bars, and was ordered to pay $926,019.73 to the bank.