A former Nashville banker has been charged with multiple crimes after stealing more than $139,000 from two elderly customers.
Karl Stephen Richardson was arrested Tuesday following a four-month investigation by the Metro Nashville Police Department’s Fraud Unit, reports News Channel 5.
He is charged with two counts each of financial exploitation of an elderly person, wire fraud, theft, identity theft, and credit card fraud.
The lawsuit began in February when Bank of America filed a complaint.
Richardson worked at the bank’s Harding Pike branch.
Accused of arranging 19 withdrawals totaling $60,000 from a 75-year-old client’s account between July 2025 and November 2025, the client did not receive much of the money.
Investigators also found 11 unauthorized ATM withdrawals totaling $8,000 from the same account.
His total loss came to $68,400.
The second victim, an 86-year-old woman, lost approximately $70,932 through 100 unauthorized transactions that included Zelle transfers, ATM withdrawals, debit and credit card purchases. According to NewsChannel 5, Richardson developed a relationship with an 86-year-old customer.
The report says Richardson continued to withdraw money from the 86-year-old’s account even after he left Bank of America in November of 2025. Between January 1st and April 13th of this year, the report says Richardson withdrew $4,500 from the victim’s account.
Richardson was arrested while working at Simmons Bank in Bellevue. His contract is set at $370,000.
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