GREECE, N.Y. (WROC) — The United States Attorney’s Office announced Tuesday a former bank manager in Greece faces charges stemming from her employment at a Bank of America, and a Citizens Bank from 2014 to 2017.
Derline Cunningham, 60 years old, now faces charges of bank fraud, and conspiracy to commit bank fraud. If convicted, Cunningham could spend 30 years in prison, as well as a $1,000,000 fine.
The criminal complaint stemmed from an investigation that was launched by the United States Postal Inspection Service.
USAO alleges that Cunningham lied repeatedly for her clients, Lucian Development (which includes Perry Santillo and Christopher Parris) who were engaged in a “decades long Ponzi scheme.” These lies led to other banks extending millions of dollars in revolving creidit.
That credit, according to USAO, was used to fuel their Ponzi scheme.
The victimized bank ended up losing $335,968 to Santillo and Parris, and USAO says that “Cunningham made an initial appearance today before U.S. Magistrate Judge Mark W. Pedersen was released.”