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Friday, December 17, 2010

Ex-banker sentenced for embezzlement in Iowa

A former branch manager of a bank in Ankeny has been sentenced to more than a year in prison for embezzlement.

Dana Schmieding of Cambridge was accused of embezzling money between 2001 and 2008 from U.S. Bank.

Federal prosecutors said she took unauthorized advances from existing consumer loans, originated loans in the names of the bank and bank customers without their knowledge or consent, and accessed established credit lines of various bank customers.

Schmieding pleaded guilty to a charge of embezzlement by a bank employee.

The U.S. attorney’s office said she was sentenced last week to 17 months in prison. Schmieding also was ordered to serve five years of supervised release and to pay restitution of $250,000.

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