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Ex-Bank of America manager admits stealing $2 million from customers

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(CBS/AP) FORT WORTH - A former Texas Bank of America manager accused of stealing at least $2 million from customers has pleaded guilty.

Authorities say Pamela Cobb pleaded guilty Wednesday to bank fraud and faces up to 30 years in prison. A federal judge in Fort Worth will sentence her in September.

The former Bank of America branch manager could also be ordered to pay a $1 million fine and make restitution.

Prosecutors say Cobb illegally withdrew cash from accounts since 2002. Some customers reported the missing funds to her, and then Cobb would steal from other accounts to hide the original theft.

The Fort Worth Star-Telegram reports Cobb used the money for vacations, clothing, jewelry and land. She must forfeit property in Granbury, a car, a camping trailer, plus a diamond ring and bracelet.

According to the Star-Telegram, Cobb's attorney, Julya Billhymer, says her client should be allowed to continue working in order to pay restitution.

Billhymer reportedly would not say where Cobb is working, but did reveal that it is not a bank and that "she's not handling money."

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