 |
 |
The United States Attorney's Office
Middle District of Tennessee
September 19, 2008
PATRICIA TAYLOR INDICTED FOR BANK FRAUD, MONEY LAUNDERING AND MISAPPLICATION OF CREDIT UNION FUNDS
Nashville, TN - September 19, 2008 - Ed Yarbrough, U.S. Attorney for the Middle District of Tennessee, Christopher Pikelis, Special Agent in Charge of the Internal Revenue Service Office of Criminal Investigation, and My Harrison, Special Agent in Charge of the Federal Bureau of Investigation, announced that Patricia Taylor was indicted by a federal grand jury on Wednesday for bank fraud, money laundering and misapplying funds intrusted to a federal credit union.
The twenty-nine count indictment alleges that from April 13, 1999 through August 1, 2006, Taylor executed a scheme to defraud the Nashville Post Office Credit Union. The indictment alleges that as part of this scheme Taylor fraudulently caused cashier's checks totaling approximately $414,425.00 to be issued by Nashville Post Office Credit Union payable to Bank of America and caused those cashier's checks to be deposited into bank accounts maintained in the names of Taylor and her husband at Bank of America. The indictment alleges that Taylor spent these funds to pay her personal and family expenses.
If convicted, Taylor faces up to 30 years in prison, a $1,000,000 fine, and supervision for up to five years. However, any sentence following conviction will be imposed by the Court after consideration of the U.S. Sentencing Guidelines and applicable federal statutes.
This case is being investigated by the Internal Revenue Service Criminal Investigation Division and the Federal Bureau of Investigation. The United States is represented in the case by Assistant United States Attorney Byron Jones.
The public is reminded that an indictment contains only charges and need not be supported by proof of guilt beyond a reasonable doubt. The defendant is presumed innocent and is entitled to a fair trial at which the United States has the burden of proving guilt beyond a reasonable doubt.