NASHVILLE, Tenn. (WTVF) — A former Nashville banker is facing multiple felony charges after an investigation found he allegedly stole 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.
Richardson is charged with two counts each of financial exploitation of an elderly adult, computer fraud, felony theft, identity theft and credit card fraud.
The investigation began on Feb. 6 after Bank of America, Richardson's former employer, filed a complaint. Richardson worked at the bank's Harding Pike branch.
According to police, Richardson is accused of processing 19 counter withdrawals totaling more than $60,000 from a now 75-year-old customer's account between July 25, 2025, and Nov. 21, 2025. Investigators said the customer was not seen receiving money from most of those withdrawals. In several transactions, Richardson allegedly gave the customer cash, but less than the amount withdrawn.
Police also allege Richardson made 11 unauthorized ATM withdrawals totaling $8,000 from the customer's account between Sept. 12, 2025, and Oct. 8, 2025. Investigators calculated her total loss at $68,400.
Later in February, the Fraud Unit received a referral from Adult Protective Services involving an 86-year-old Bank of America customer who was reportedly missing tens of thousands of dollars.
Detectives determined Richardson began working at the Harding Pike branch in early 2022 and developed a personal friendship with the customer. He is accused of conducting more than 100 unauthorized transactions — including ATM withdrawals, branch cash withdrawals, debit card purchases and Zelle transfers — totaling nearly $70,932 between April 11, 2022, and April 13, 2026.
Richardson left Bank of America in November 2025. Police said he continued making unauthorized withdrawals from the victim's accounts after leaving the bank, totaling $4,500 between Jan. 1 and April 13 of this year.
After leaving Bank of America, Richardson went to work at Simmons Bank in Bellevue. According to the victim's family, he instructed the 86-year-old customer to visit his new branch, where he opened an account in her name. The victim's son later closed the account before any transactions occurred.
Richardson was arrested Tuesday while working at Simmons Bank.
A judicial commissioner set his bond at $370,000.
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