PITTSBURGH, Pa. - (11/04/05) -- An Army reservist who served in Iraqin 2003 pleaded guilty Wednesday to stealing credit union checksand using the account numbers to make counterfeit checks. SheldonStewart, 27, of East Liberty, faces up to five years in prison forhis role in the scheme, which netted as much as $70,000. Stewartwas working as a security guard in the Alcoa Corp. building when hewould steal checks arriving in the building--many of themdesignated for Alcoa FCU--then provided them to an accomplice. Theaccomplice took the routing and account numbers off the checks andused them to create counterfeit checks that he would cash atPittsburgh-area stores.
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Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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