CORTEZ, Colo. - (05/10/06) -- Sixty-one-year-old Sharon Vaughn,the main suspect in last May's armed robbery at Southwest ColoradoCU, testified Monday during the trial of her daughter and allegedaccomplice, Danja Vaughn, that she made off with only $60,000 fromthe heist, the rest of the $105,000 missing was stolen by RebeccaSmith, the teller on duty that day and a main witness in the case.Another teller at the credit union, Carol Garrett, told jurors thatSmith was formally written up for her job performance that samemonth and planned to quit her job. Smith has agreed to plead guiltyto conspiracy to commit theft after she changed her originalstatement to police that the Vaughns was not involved in therobbery. After changing her story, Smith gave police a stuffedanimal with $15,000 packed into it she said Sharon Vaughn gave herto buy her silence. Smith testified she originally told police theVaughns were not involved because Danja Vaughn threatened her.Sharon Vaughn testified her daughter did not know about the robberyand that the teller was the mastermind behind the heist. She toldjurors that during a meeting at the credit union just six daysbefore the robbery Smith showed her how to walk through the creditunion lobby so as not to be seen by the surveillance cameras. BothVaughns became suspects when the mother tried to pay her back rentwith $20,000 in $20 bills stolen from the credit union. SharonVaughn pleaded guilty in March to charges related to the robberyand is scheduled to be sentenced in June.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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