Former bank manager accused of stealing $1.7M

A former Stoney Creek CIBC bank manager is facing fraud charges after allegedly stealing $1.7 million from vulnerable clients.

The thefts targeted seniors or the accounts of recently deceased customers between 2008 and 2015, said Hamilton police Det. Jon Murphy.

The police investigation began April 25, 2019, after the major fraud unit received a report from CIBC corporate security. An internal investigation revealed a large sum of money had been stolen from customers.

Murphy said the money was taken in both big and small amounts, out of the accounts of clients who were not regularly checking balances.

On Tuesday, Hamilton police arrested 60-year-old Sandra Walker of Burlington. She’s facing charges of fraud over $5,000, possession over $5,000 and criminal breach of trust. She was released on a promise to appear in court Oct. 24.

The criminal charges relate to four victims. Police did not specify the specific branch location, however, a source said it was 146 Highway 8 in Stoney Creek at Gray Road.

It’s unclear when CIBC first learned of the thefts and why it took until this year to go to police.

CIBC spokesperson Tom Wallis said Walker left the bank in January 2015.

“We take this matter seriously and are continuing to work with law enforcement,” Wallis said. “The safety of our clients’ information and accounts is our top priority, and we have worked with the small number of clients affected to resolve the matter with them.”

A possible motive for the alleged fraud also remains unclear, Murphy said.

The investigation is ongoing. Anyone with information is asked to call Det. Jon Murphy at 905-546-4527.

To remain anonymous, contact Crime Stoppers at 1-800222-8477 or submit crimestoppershamilton.com.