Former Wachovia Wealth Manager Steals $14.1M
Linda Speaks Tribby, a 42 year old former Wachovia Bank manager in Virginia who admitted to stealing $14.1 million from bank clients has been sentenced in Alexandria, VA to seven years in prison, according to Investment News. Ms. Tribby apparently sold banking investment products to customers that did not exist and used the money to buy a Bell helicopter, a luxury motor home, a home in West Virginia, a hunting cabin on 200 acres in New York, a lake house in New York, 100 acres of land in Nevada and all sorts of exotic animals, including two zebras. The article stated that Tribby sold customers a non-existent wealth management product that earned tax free interest. Thereafter, she transferred funds from the customers’ accounts to accounts she controlled and created fake statements to send to customers along with periodic interest payments. Judge Liam O’Grady ordered her to make full restitution to the victims, to forfeit the property and the helicopter and all funds held in bank accounts.
Ms. Tribby, from Lovettsville, VA, was employed by Wachovia and its predecessors for over 25 years. She was last involved as a business relationship manager developing client accounts around Loudoun County, VA, according to the prosecutors. Since she was arrested at Dulles International Airport on January 23, she has been incarcerated. Upon her arrest she had over $30,000 in cash and handwritten notes to her boyfriend and family admitting responsibility for the crime. The government was able to put its hands on only around $5.5 million of the $14.1 million stolen.