Bank Executive Deceitfully Embezzles $411,923 from Employer Over a Six-Year Period through Fabrication of Documents
In a shocking turn of events, Amy Jo Reid, a former senior vice president and director of purchasing at Associated Bank in Green Bay, has pleaded guilty to three fraud charges in a six-year scheme that saw her charge approximately $412,000 of personal expenses to bank-sponsored credit cards, known as "purchase cards" or "p-cards."
The fraudulent activities, which took place from May 2018 to May 2024, included expenses such as flights, hotel stays, rental cars for herself and her family, residential property taxes, flood remediation at her home, casino gambling, and Amazon purchases. To conceal her activities, Reid submitted doctored receipts and made materially misleading statements, making the purchases appear legitimate to her supervisors.
The scheme unraveled in June 2024 when Reid admitted to bank investigators that she had been stealing funds using the p-cards for several years. Each of the three fraud charges she pleaded guilty to carries up to 30 years in prison and a $1 million fine. As a result, Reid has agreed to pay $411,923 in restitution to the bank.
As of late June 2025, Reid's guilty plea and restitution agreement are the latest developments publicly available regarding this case. The article appears under categories such as Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Regulators, Scams, HodlX, and Press Releases.
This incident serves as a stark reminder of the potential risks associated with misuse of corporate credit cards and the importance of robust internal control systems to prevent such fraudulent activities.
Cryptocurrency markets were abuzz with the news of Amy Jo Reid's guilty plea, an ex-senior bank official, for a six-year scheme involving bank-sponsored credit cards, or 'p-cards'. Her fraudulent expenses spanned from flights and hotel stays to gaming at casinos and Amazon purchases, all amounting to approximately $412,000. Concealing her actions, Reid submitted falsified receipts and misrepresented her expenses under the blockchain trail of her transactions, making them appear legitimate to her supervisors. The case, falling under the categories of Bitcoin, Ethereum, Trading, Altcoins, Futuremash, Financeflux, Blockchain, Scams, HodlX, and Press Releases, also highlights the general-news aspect of crime-and-justice, stressing the importance of businesses implementing stringent internal control systems to mitigate such corporate fraud.
