Former Ameris Bank Employee Charged Over $931,500 Fraud Routed Through Coinbase Accounts

A former employee of Ameris Bank has been indicted in the United States on charges connected to a scheme that allegedly diverted more than $931,500 from bank customers into cryptocurrency accounts held on Coinbase.

Mercedes Henry, 35, worked as a universal banker across several Ameris Bank branches in the Atlanta area. Prosecutors allege that between September and November 2021, she used client banking information without authorization to link six customer accounts to Coinbase accounts controlled by alleged accomplices, enabling the transfer of funds out of the victims' bank accounts.

According to the indictment, Henry received more than $1,000 for her role in the scheme. A grand jury adopted the indictment on September 22, and Henry was arrested three days later, on September 25, when she also appeared before a federal judge. She faces charges of bank fraud, access device fraud, and bribery or corruption.

Prosecutors describe role of stolen data

The case is being handled by the U.S. Attorney's Office for the Northern District of Georgia, with Theodore S. Hertzberg serving as the federal prosecutor. In a statement, Hertzberg said Henry allegedly stole sensitive information to facilitate close to a million dollars in fraudulent transfers from victims' bank accounts to cryptocurrency accounts controlled by her accomplices.

The FBI's Atlanta field office conducted the investigation that led to the indictment.

Coinbase and Ameris Bank not accused of wrongdoing

Authorities have not accused Coinbase of any fault or system breach in the case. The exchange is described in the indictment solely as the destination platform that received the transfers originating from the victims' accounts.

Ameris Bank's systems are likewise not alleged to have been hacked or breached externally. Instead, prosecutors say the fraud relied on internal access abuse by an employee with legitimate entry to client data, rather than any failure of the bank's security infrastructure.

The indictment does not address whether the diverted funds were used to purchase cryptocurrency, whether any money ultimately left Coinbase, or whether any of the transferred funds have since been recovered. The identities of the alleged accomplices who controlled the receiving accounts have not been disclosed, and it remains unclear whether further arrests are expected.