$69,040 Drained From Five Customers at Major US Bank, FDIC Blames Employee for “Unsafe or Unsound Banking Practices’

A Truist Bank employee allegedly manipulated the system to steal a pile of cash from the bank’s customers without their knowledge and consent.

In a new filing, the Federal Deposit Insurance Corporation (FDIC) says Alexi J. Rearick has been caught engaging in bank fraud at a Truist branch in Charlotte.

The FDIC alleges that Rearick cashed 13 fraudulent checks amounting to $69,040 from five customer accounts, forcing the bank to absorb the losses after reimbursing the victims’ losses.

“Respondent engaged and participated in unsafe or unsound banking practices in connection with the Bank. Respondent’s practices caused the Bank to suffer financial loss, and resulted in financial gain or other financial benefit to the Respondent.

Respondent’s practices involved personal dishonesty and demonstrated Respondent’s willful and continuing disregard for the safety and soundness of the Bank.”

The regulator has barred Rearick from working at or participating in the activities of any FDIC-insured bank, holding company or affiliated entity without getting prior approval.

The FDIC says the Prohibition Order will remain enforceable until any regulator decides to suspend, modify, terminate or set aside the provisions in writing.

Rearick has consented to the stipulations of the FDIC’s Prohibition Order without admitting or denying the theft, which happened between December 20th, 2021, and January 13th, 2022.

The regulator adds that the order does not bar other government agencies from pursuing legal action against Rearick if deemed appropriate.

Truist Bank is the ninth-largest commercial bank in the US, with more than $535 billion in assets, according to the Federal Reserve.