NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Laura Anne Potts
AWC/2009018291401

Potts used her access as a private banking associate to embezzle approximately $1,452,158 from customers’ checking and certificate of deposit (CD) accounts. Potts fraudulently completed debit tickets, ranging from $800 to $68,000, to withdraw funds from customers’ checking and CD accounts, falsely indicating that the customers requested the withdrawal: The customers neither authorized nor had knowledge of the withdrawals. Potts presented the debit tickets to bank tellers at her local bank branch and received cash back, which she used for her own personal use.

Laura Anne Potts: Barred

Tags: Bank