Tucson Banker Jailed, Will Pay $1.25M After Defrauding Client

Tucson AZ

16 November, 2020

5:25 PM

Description

TUCSON, AZ — A Tucson banker was sentenced on Friday to over three years in prison for defrauding an 82-year-old client, a judge ruled. U.S. District Court Judge Jennifer G. Zipps sentenced 38-year-old Jacob Roach to 40 months of prison time. Roach was also ordered to pay his victim $1.25 million in restitution, according to a news release from the U.S. Department of Justice. "Roach was employed as a business relationship banker for a large bank in the Tucson area, where he fraudulently created a bank account in the victim's name, and thereafter embezzled $1.25 million for his own use," the news release said. Roach apparently quit his job before the bank discovered what happened. An investigation was conducted by Homeland Security Investigations and the Tucson HIDTA Financial Task Force.