The U.S. Department of Justice has reported that a former bank manager has confessed to diverting more than $250,000 from customers to support his personal expenditures.

According to DOJ officials, Eric Jason Schouest, 53, from Plaquemine, Louisiana, has pleaded guilty to charges of embezzlement and bank fraud. Prosecutors state that Schouest used his managerial authority at a Regions Bank branch on Plank Road to unlawfully access customer accounts. He manipulated accounts by opening and closing them and transferring funds illicitly in and out, all with the intent of pilfering funds.

Once in possession of customers’ funds, Schouest directed over $250,000 towards payments for personal loans, covering expenses such as his house and car. The DOJ’s statement reveals, “Starting around 2020 and continuing until approximately April 2021, Schouest exploited his trusted position at Regions Bank to siphon funds from customer accounts into his own. He employed deceptive tactics, including false emails and forged documents sent to colleagues, to mask his activities.”

In addition to a $1 million fine, Schouest faces a potential maximum sentence of 30 years in prison and supervised release for each conviction of embezzlement and bank fraud.

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