Trusted, Friendly Banker Allegedly Bilked $1.4 Million From Elderly Clients
Foss was arrested on May 10. Three days later, she was charged with 20 felony counts, including misapplication of bank funds, money laundering and grand elder financial abuse, according to a complaint.
thefts began in May 2010 but were discovered earlier this year after a wealth manager noticed that his client's bank statements had been altered. The wealth manager notified U.S. Bank about his suspicions, but Foss denied giving the manager the altered documents. According to records, on Feb. 22, 2013, $225,229.15 had been deposited into a CD account in the name of an elderly woman. This money was later removed from her account "in an apparent attempt to restore the missing funds the first elder's account," the complaint states.
When asked about the transfer of funds, Foss allegedly replied that one of the clients was repaying the other for money borrowed during "the Oakland Hills fire" in 1991. But the client said that she had not borrowed any money; nor had she withdrawn any money from her CD. Bank records show that on Feb. 8, 2010, there was $972,205.22 in her CD. On Feb. 22, 2013, there was just $353,134.23.
Two of the victims, Carol Habiger, 83, and Julie Habiger, 49, are mother and daughter-in-law. "I'm just really shocked by the whole thing," Julie Habiger, told SF Gate. She added that her family has been friends with Foss for 25 years, often going out to dinner together. Foss is accused of stealing more than $42,000 from Julie Habiger and over $470,000 from her mother-in-law.
Representatives from the Montclair Village Association, U.S. Bank, First Republic Bank and JPMorgan Chase did not return phone calls to ABC News. Neither did Foss's lawyer, Mark Vermeulen.
In a statement, Teri Charest, a spokesperson for U.S. Bank Corporate Public Relations, said that they have taken "every step to ensure customer accounts are whole and to work closely with customers on any issues they may have."
Watch the whole story on KTVU.
Don't Miss: Companies Hiring Now