MONTGOMERY, Ala. – Today, Acting United States Attorney Kevin Davidson announced the sentencing of a LaGrange, Georgia woman for her role in a scheme to steal funds from federal employees’ Thrift Savings Plan (TSP) retirement accounts.

Beware of scams impersonating FDIC/OIG Personnel. Scammers might use the FDIC or FDIC OIG’s seal or logo to make their demand for funds appear to look legitimate. 

Pulaski Savings Bank’s failure occurred primarily due to impaired capital. Specifically, the bank had deposit liabilities of at least $20.7 million not accounted for in its core financial system.

The FDIC relies on contractor support to accomplish its mission. Therefore, it is important that the FDIC ensure effective contract oversight and compliance with its acquisition policies and that contractors deliver goods or services according to the terms of the contract.

The OIG has posted two alerts and a video highlighting the dangers of Pig Butchering Schemes—both to consumers and banks alike.