Story Archive

Cash Cow

Elexa Manos-Becton, 43, of Coraopolis, Pa., had clearly come into a great deal of cash. She even had to buy a bill-counting machine to keep up with the flow. She explained to some that she had inherited the money, and to others that she made it playing the stock market. She really got it, prosecutors say, from 208 transactions that transferred cash from Dwelling House Savings and Loan to herself, without the thrift finding out, after she discovered a flaw in the institution’s accounting system. Manos-Becton, along with two of her friends, raked in $2.466 million. When Dwelling House was unable to resolve their books, they failed and went out of business. Manos-Becton pleaded guilty to one count of bank fraud for a single $9,500 transfer, and to one count of money laundering for using the proceeds to make a payment on the house she purchased. (JW/Pittsburgh Post-Gazette) ...Other depositors figured it out when the flailing S&L changed its name from Dwelling House to Dwindling House.
Original Publication Date: 26 June 2011
This story is in True’s book collections, in Volume 17.

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