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Friday, October 15, 2010

Polo, Missouri Woman Pleads Guilty to $414,000 Bank Theft

Beth Phillips, United States Attorney for the Western District of Missouri, announced that a Polo, Missouri woman pled guilty in federal court today to embezzling more than $414,000 from Bank Northwest, where she was employed in Polo and Hamilton, Missouri.

Laurine K. Calvert, 55, of Polo, waived her right to a grand jury indictment and pleaded guilty before U.S. District Judge Greg Kays to a federal information that charges her with embezzlement by a bank employee.

Calvert admitted that she embezzled $414,124 from Bank Northwest from Feb. 10, 2003, to Feb. 8, 2010. Calvert was employed by Bank Northwest in both Polo and Hamilton as a teller and bank loan secretary.

Calvert took money from five separate customer accounts. She later created four fictitious loans, using part of the funds from these loans to replace the money she had taken from customer accounts. Calvert used the rest of the loan money for her personal benefit, giving some to family members and spending some during her monthly trips to gamble at Kansas City casinos.

Under federal statutes, Calvert is subject to a sentence of up to 30 years in federal prison without parole, plus a fine up to $1 million and an order of restitution. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorney Daniel M. Nelson. It was investigated by the Federal Bureau of Investigation

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