Banker's Bold Heist: $1M Cash Theft Exposed
1min read A bank employee in New York has been arrested for allegedly stealing $1,000,000 in cash from his employer's vault and successfully smuggling it out of the premises. Daniel A. Acebo, a business banker at the unnamed bank, was responsible for tallying the cash in the vault at the end of each day. However, according to a probable cause arrest affidavit, Acebo allegedly stole the money and covered up the theft by creating false reports and forging his supervisor's signature.
In an apparent attempt to keep the theft undetected, Acebo reportedly requested an exception to a 1997 New York banking regulation that requires employees in sensitive positions to be absent from their duties for a minimum of two consecutive weeks each year. This requirement is designed to enhance the viability of a sound internal control environment, as most frauds or embezzlements require the continual presence of the wrongdoer. However, Acebo's request was denied by his employer.
The incident came to light in December 2023 when another teller was counting the cash and discovered that only about $100,000 was in the vault, despite Acebo reporting that there was $1,145,050 inside. Video footage allegedly shows Acebo practicing his supervisor's signature while at work and slipping money into a backpack or his sock while pretending to tie his shoe before leaving the bank.
Between June 1st and December 17th of last year, Acebo allegedly made 135 cash deposits at various ATMs throughout the state totaling $600,000. Acebo was subsequently charged with embezzlement and misapplication by a bank officer in a U.S. District Court in White Plains, New York.
