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Ex bank employee accused of stealing money from bank and customers

Posted in Scams May 19th, 2010 @ 10:14 am

Recently, a warrant has been issued for the arrest of a former First National Bank employee for several felony charges. Michael Talamantes age 43 is charged with theft by swindle, theft of corporate property, concealing criminal proceeds, engaging in the business of criminal proceeds and commercial bribery.

Mr. Talamantes was working as a bilingual officer servicing Hispanic customers. The bank noticed discrepancies in his account from October 2006 through February 2009. Huge amounts of cash deposits – $26,356 – were noticed. Talamantes claimed that he earned the money by detailing cars and doing snow removal for Isak’s Auto Sales in Cleveland, Minnesota and Camauta’s Import Auto in Shakopee.

However, both dealerships told investigators that they had not paid him for that type of work. Instead, they paid him for “referrals” that had not been approved by the bank with check payments and not cash

All of his deposits were in cash. In addition, investigators were told by his Hispanic customers to make payments directly to him for their loans. Instead of crediting the customer loans, it appears he may have kept the money for himself. In addition, several customers were told by him not to talk to any one else in the bank except for him.

In reality, he was scamming people who trusted him. All the time this low-life was stealing hard-earned money from vulnerable people and profiting from it.

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