Bank Fraud Arrest


A Tallahassee woman is in jail Tuesday, facing 100 different charges and a half-a- million-dollar bond. She was the treasurer of the Tallahassee Mortgage Bankers Association, and police say she did plenty of creative accounting.

Carol Miles was a mortgage banker at Capital City Bank, and at the time, treasurer of the Tallahassee Mortgage Bankers Association. Police say she diverted 71 checks from the bank's loan office into the association account, and then into her own pocket.

"She was stealing checks from Capital City Bank customers who were applying for loans and giving deposit checks for credit histories and things like that, then deposit them into this Mortgage Bankers account and siphon it off of that," says SGT Scott Hunt, Tallahassee police spokesman.

The checks deposited total more than $25,000. Police say Miles then withdrew all but about $300 of that money.

"She said she was paying household expenses: a mortgage, a second mortgage, vehicles, paying bills, but she also took a trip to New York and she bought some household appliances. So she was rather busy over that time to spend $25,000," says SGT Hunt.

The former president of the Mortgage Bankers Association says she was shocked by miles' scheme, and said it's a shame some people are willing to sacrifice their career for a little money.

So how did police discover Miles' scheme? She was promoted from treasurer of the Mortgage Bankers Association to president, but refused to turn over the association's financial records to the next treasurer.

That sent up a red flag and ultimately resulted in Miles' being charged with 100 different counts, including bank fraud and grand theft.