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Bank employee charged with fraud

 A 26-year-old U.S. Bank employee in Oconomowoc has been accused of stealing more than $3,500, allegedly hiding the cash in friend’s accounts.

Jacob Salemi, 950 York Imperial Drive, was charged Monday, March 17 in Waukesha County Circuit Court with fraud against a financial institution (exceeds $500, but does not exceed $10,000).

He could face six years in prison and $10,000 in fines if convicted.

According to the criminal complaint, a U.S. Bank fraud investigator reported the alleged thefts to City of Oconomowoc Police last August. He told police that bank officials found suspicious financial activity tied to a unique identification code used by Salemi, who was employed at the bank’s Oconomowoc branch until he resigned in June.

Salemi allegedly moved $3,870 of U.S. Bank funds into eights separate accounts belonging to his friends between May and June, the complaint states. Salemi was questioned by bank officials and admitted to committing the fraud.

He told police in the complaint that he asked his friends to give him half of the money back and they would keep the other half. He said he wanted to take responsibility for his actions and provided fraud investigators $3,500 as partial payment for the theft, according to the complaint.

Salemi’s friends have not yet been charged in connection to the incident.

Salemi is expected to make an initial appearance in court on Monday, March 24.

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