Bank Employee Allegedly Embezzles $33,212 From a Nonprofit She Moonlighted At – And Now the Federal Reserve Has Found Out

The Federal Reserve has caught a bank employee allegedly embezzling tens of thousands of dollars from a nonprofit organization where she worked.

In a new press release, the Fed is prohibiting former Jonah Bank employee Kendall Hickman from participating in activities related to financial institutions after she was allegedly found to have embezzled $33,212 from a nonprofit organization.

According to the Fed, Hickman worked for both the Wyoming-based bank as well as moonlighted for an unnamed nonprofit organization as a bookkeeper.

She worked for both firms from July 2021 to June 2023, and through unexplained means, she managed to embezzle the funds from the nonprofit, but was allegedly caught by authorities.

The Fed says Hickman’s actions “constituted violations of law or regulation and involved personal dishonesty.” Though she has repaid the nonprofit in full and has consented to the enforcement actions against her, she has neither admitted nor denied any of the allegations.

The prohibition order notes that taking this enforcement action doesn’t bar it from taking further actions against Hickman later on. If Hickman were to violate this order, she would be charged with separate civil or criminal penalties, according to the press release.

Jonah Bank, the nation’s 1,474th-largest bank, has $529 million worth of assets under its management and was established in 2006.