A branch manager at CVB Financial Corp. in Ontario, Calif., has been arrested and charged with embezzling thousands of dollars from customer accounts at its bank unit.

The California attorney general said Monday that Jeri Sell, the manager of the Tulare branch of the $6.8 billion-asset Citizens Business Bank, was charged with five felony counts of embezzling for allegedly stealing $679,000.

According to a press release, Sell hid the theft by placing mail holds on the accounts, so customers would not see their statements. She later claimed the unauthorized transactions were the result of computer error or identity theft.

A bank audit discovered that Sell had withdrawn funds from the accounts. An investigation found she had a gambling problem, according to the press release.

The announcement follows the disclosure that the Securities and Exchange Commission issued a subpoena to CVB in July largely related to how the company recognized troubled loans and disclosed that to investors.

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