GREEN BAY, WI (WTAQ-WLUK) – Former bank official Amy Reid was convicted of bank fraud, and will be sentenced Oct. 16.
Reid pleaded guilty Tuesday to three counts in federal court, court records show. She faces up to 30 years in prison and a $1 million fine. Reid will also be required to pay $411,923 in restitution to the bank.
Court documents say Amy Jo Reid was a senior vice president and the director of purchasing for an unnamed bank at its Green Bay headquarters. Open-source information indicates Reid worked at Associated Bank.
The bank where Reid worked had a credit card program that allowed certain employees, including Reid, to use bank-sponsored credit cards — known as “purchase cards” or “p-cards” — to make bank-related purchases.
All expenses charged by employees were billed to and paid by the bank each month. Employees were told they were prohibited from using p-cards for personal purchases and were required to document each p-card purchase with receipts to justify the expense.
According to the plea agreement, Reid executed a fraud scheme in which she charged personal expenses on p-cards and then deceived the bank into using its funds to pay for personal purchases.
Reid nominally followed this procedure to conceal her unlawful activities when she repeatedly charged personal expenses to p-cards, including flights, hotel reservations, and rental cars for herself and her family, her residential property taxes, flood remediation at her residence, casino gambling, and Amazon purchases,” a court document states.
Reid then uploaded false documents, altered receipts and “bogus descriptions” to make her supervisor believe the purchases were legitimate bank-related expenses.
Throughout a six-year period, from May 2018 to May 2024, the bank used its funds to pay for approximately $412,000 worth of Reid’s personal expenses.
“On June 12, 2024, Reid was interviewed by bank investigators and admitted that for several years she had been stealing bank funds using bank-sponsored “purchase cards,” commonly called “p-cards,” the plea agreements states.
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