DOJ: Grand Prairie bookkeeper indicted for allegedly embezzling $1.2 million from elderly couple

• Black faces ten counts of bank fraud and two counts of aggravated identity theft.
• The alleged scheme involved forged checks, unauthorized credit card payments, and cash withdrawals.

Nancy Black, a Grand Prairie bookkeeper, was federally indicted on September 15 for allegedly embezzling at least $1.2 million from an elderly Waxahachie couple. She is charged with ten counts of bank fraud and two counts of aggravated identity theft, and had her initial appearance before U.S. Magistrate Judge Toliver Judge on September 23.

The indictment alleges that from at least 2018 to 2024, Black forged checks payable to herself, used the victims’ bank accounts to pay her own credit card bills, and withdrew cash from an account she was supposed to close over a decade earlier. If convicted, she faces up to thirty years in prison for each bank fraud count and two years for each identity theft count.

• $1.2 million alleged embezzled amount

• Review internal controls for bookkeepers handling family finances, referencing the DOJ indictment of Nancy Black.
• Audit for forged checks and unauthorized credit card payments in accounts managed by trusted employees, as described in the indictment.
• Monitor for cash withdrawals from accounts that should have been closed, per the typology in the DOJ case.

This case highlights the risks of insider fraud and the importance of robust controls when entrusting financial management to individuals, especially for vulnerable populations like the elderly. The alleged scheme involved multiple methods of theft, including forged checks and unauthorized payments, underscoring the need for vigilant monitoring and regular audits. Compliance officers should use this example to strengthen procedures for detecting and preventing similar embezzlement and identity theft schemes within their organizations.