Defendant Basham, a former employee of the plaintiff bank, over a two-year period permitted a check-kiting scheme whereby a customer made deposits using checks drawn on insufficient funds or closed accounts, and then replaced those checks, when dishonored, with new checks. Eventually, checks totaling $256,000 were dishonored. These dishonored checks were not replaced, but instead defendant Basham looted an inactive account to cover the overdrafts. Defendant admitted below...
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