The former CIBC bank manager withdrew funds from her mother-in-law's account to fuel a drug addiction, the court heard.
A former CIBC manager from Merritt has avoided prison but will face a significant uphill journey to repay the $157,000 she stole, from her mother-in-law and the bank, plus a $300,000 fine from the Mutual Fund Dealers Association, said Kamloops Provincial Court Judge Raymond Phillips.
On Friday, Phillips handed Thomas a 24-month conditional sentence, dismissing the prosecutors’ request of one or two years in prison.“You were at a time in life when things were going poorly, but it’s still no excuse,” he told Thomas. The judge’s leniency was guided by the fact Thomas faces major debt repayments but also because Thomas is remorseful and immediately pleaded guilty to her charges.As well, Thomas’s actions drew media attention.Thomas, who is 41 years old and has a daughter, also started attending Narcotics Anonymous prior to her court proceedings, the court heard.
According to the facts of the MFDA hearing, Thomas opened a tax-free savings account for her mother-in-law in January 2018 and purchased over $56,000 worth of mutual funds.
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