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Wednesday, March 27, 2013

Credit union’s ex-VP sentenced in $1 million embezzlement in California

The onetime second-in-command of Upland-based Chaffey Federal Credit Union, who pleaded guilty to embezzling nearly $1 million from the institution, was sentenced in Riverside Federal Court to 21/2 years in prison Monday, March 25.
Carol Ann Ferraro, 66, of Riverside, also was ordered by U.S. District Judge Virginia Phillips to pay a fine of $1,052,790.56. That covers restitution to Chaffey’s insurer of the $968,000 Ferraro had stolen, plus legal fees, research and audit expenses to identify the missing money.
“This is a relatively small credit union and it had a huge impact,” Assistant U.S. Attorney Antoine Raphael said in a phone interview after Ferraro was sentenced. “It was a lot of money taken over a long period of time by someone very high up.”
He called the embezzlement “fairly sophisticated — by someone who knew the banking system.”
In court papers, Raphael described Chaffey as “a small financial institution that serves employees of school districts in the San Gabriel Valley and the Inland Empire.”
Ferraro, whose last position with the credit union was executive vice president, issued checks drawn on Chaffey Federal Credit Union accounts for such things as credit card bills, cellphone bills and mortgage bills. One check for $29,355.50 was to pay for a recreational trailer, Raphael said.
Once identified, Ferraro admitted the embezzlement and took responsibility for it even before it was referred to the U.S. attorney’s office or the FBI.
She entered a plea agreement in October.
Requests for sentencing leniency included letters from her family and members of her church.
Ferraro sought a sentence of six months in custody and six months of home detention. She fought an enhancement that claimed she had abused her trust.
Her defense attorney argued that the law did not “distinguish between the window clerk at a credit union or the executive vice president,” and therefore her position at Chaffey should not be used as a sentence enhancement.
Deputy Federal Public Defender Young J. Kim also said in court papers there was no evidence Ferraro “took steps to hide her embezzlement from Chaffey FCU until she was confronted by an auditor.”
But the government successfully argued she had abused her trust.
Papers filed by Raphael said Ferraro had embezzled the money from January 2004 until June 2011. As auditors zeroed in on Ferraro in July 2011, she “attempted to conceal her theft … (Ferraro) created fictitious deposits … and she submitted a forged and fabricated financial statement to the bank auditor,” Raphael wrote.
Kim pointed out that Ferraro has been married to Ronald James Ferraro for 46 years, and has cared for him through health problems for 32 of those years. The couple has two adult daughters and seven grandchildren. She worked at Chaffey from June 1992 until August, 2011.
Her life, Kim wrote, “is so at odds with her crime … She has cared for and supported her daughters, her friends, her parents and many strangers through her church. She is by all accounts a kind, generous and giving person.”
Ferraro has until May 13 to report to serve her sentence, Raphael said. She will likely serve about 85 percent of the time.

Former Charleston bank executive pleads guilty to embezzlement in West Virginia

The former executive of a Charleston-based J.P. Morgan Chase Bank who admitted to embezzling more than $500,000 from his employer pleaded guilty Tuesday in federal court.
According to a release from U.S. Attorney Booth Goodwin’s Office, Mark Alan McCoy, 46, of Charleston, pleaded guilty to embezzlement by a bank officer.
From September 2008 until June 2012, McCoy was the vice president of private client banking services at the bank’s Charleston branch.
McCoy admitted in court to stealing monies belonging to Chase Bank during his employment, from approximately nine separate personal and corporate bank clients’ accounts. The illegal activity took place from November 30, 2009 through April 19, 2012.
McCoy also admitted that he created cashier’s checks for himself or would use the proceeds from the original cashier’s checks to create additional unauthorized checks.
McCoy further admitted to creating an unauthorized cashier’s check on January 19, 2011 from a client’s corporate bank account for $59,000, with the check made payable to Moses automotive dealership. He said he then took the cashier’s check and purchased a Cadillac Escalade with the proceeds.
In addition, McCoy also admitted to creating another unauthorized cashier’s check from a client account for $22,000. He said he deposited that check into another client’s account for payment for a 1968 Chevrolet Camaro.
In all, McCoy admitted to taking around $532,395.59 of monies from Chase Bank. The actual loss to Chase Bank, after accounting for funds that the defendant deposited into client accounts and other funds that the bank was able to recover, is $447,784.45.
McCoy faces up to 30 years in prison and a fine of up to $1 million when he is sentenced on July 17.

Friday, March 22, 2013

Montgomery County Bank Embezzlement in Missouri

A Montgomery County woman is indicted after allegedly embezzling money from the bank she managed.
38-year-old Candida Lehnen of Middletown appeared in federal court Wednesday on one count of embezzlement by a bank officer. Prosecutors claim she stole over 90-thousand dollars when she managed Middletown’s branch of American Bank.
Lehnen allegedly used fake information when processing cashier’s checks so she could keep the money herself. Prosecutors also say she used altered debit tickets to get money, and even closed an account belonging to someone who died, then withdrew the money in it.
If she is convicted, Lehnen faces up to 30 years in prison and a fine of up to one million dollars

Thursday, March 21, 2013

The Burlington job: How police foiled an old-fashioned bank heist in Canada

When officers first arrived at the TD Bank branch on Fairview Street early Monday morning, there was little indication they had a vintage bank caper on their hands.
The doors were locked, the bank was deserted. But there had to be some reason the branch's cutting-edge security system had transmitted several break-in alerts to Halton Regional Police around 1 a.m. They had no choice but to set up a perimeter and investigate more fully.
They were about to uncover a gang of professional bank thieves whose sophistication and attention to detail harkens back to a bygone era when the methodical bank job was a pillar of organized crime and a path to public infamy – or, in some cases, folk-hero status.
"Those kinds of old-style romantic type of theft that were idealized in films and glamourized in the news, they are a lot less common now because there is very little money in banks any more and the security is so advanced," said Frederick Desroches, professor of criminology at St. Jerome's University, who interviewed 80 convicted bank robbers for his book Force and Fear: Robbery in Canada.
High-level thieves targeting financial institutions now prefer less risky options than the likes of John Dillinger, Ken (The Flying Bandit) Leishman, Monica (Machine Gun Molly) Proietti and other notorious crooks of times past.
"There are other ways of getting money for anyone with basic Internet skills, all kinds of frauds, embezzlements," Dr. Desroches said.
From 1998 to 2008, bank robberies in the country declined by 38 per cent, according to Statistics Canada. Since then, figures provided by the Canadian Banking Association indicate a further drop, from 830 in 2009 down to 591 last year.
Halton police didn't know what they had on their hands as they waited in the -4 chill for the branch property manager to show up, but the on-duty patrol dog, Storm, wasn't content to kill time. He led a group of officers east along a set of railroad tracks behind the Burlington bank. He was onto something.
One officer began searching an empty field. Along the eastern border of the property, he came across five men, according to a police version of events. They were hiding in a cluster of trees with walkie-talkies and two hockey bags. Inside the bags, police found wad after wad of cash in U.S. and Canadian currencies totalling over $300,000, a variety of rare coins and a collection of valuable jewellery. Police apprehended the men.
The more startling details were yet to come.
Investigators entered the branch and spotted a gaping hole in the ceiling. Cobbling together details at the scene, which included three nearby cars full of burglary tools, they learned the thieves had forced their way into a vacant second-storey office space over the bank several days earlier. Camping out in the office, the burglars covered the windows and brought in a collection of tools befitting a major construction site: sledge hammers, concrete saws and floodlights.
"They took great steps to disguise their location to make it look like they were probably doing renovations in the complex," said Andrew Fletcher, deputy chief of operations for Halton police.
But two items should have raised suspicions: blowtorch equipment and rappelling gear.
Working by night to avoid detection, the bandits bypassed the alarm system – or at least they thought they did – using an electronic device. Then they cut away a portion of the 60-centimetre-thick reinforced concrete floor directly over the bank's vault and lowered themselves down.
Police are not elaborating on how they cracked the bank's vault, but the acetylene torch equipment could provide part of the answer.
Once inside, they pillaged the vault and a number of safety deposit boxes, stuffing the hockey bags full of bills and coins. It was the perfect heist – until one of the robbers tripped a secondary alarm on the way out. The thieves would have been strolling back to their cars when Halton squad cars began appearing in all directions, police said.
"Although they were able to circumvent some security measures, ultimately they were not able to circumvent them all," said the lead investigator, Detective Donna Whittaker.
On Wednesday, Halton police announced charges against John Hickey, Alexander Papic, Aldo Simoni, Mentor Vishjay and Besim Rugova. All are facing charges of breaking and entering as well as possession of break-in instruments. Technically, the Burlington theft doesn't count as a bank robbery, which, by definition, requires the use of force or threat of force. Several agencies are now looking for similarities between the Burlington theft and other incidents across Ontario.
The degree of sophistication is surprising considering modern bank theft generally attracts a lower order of criminal who might score $1,500 on a good day, Dr. Desroches said. "The vast majority are people who go in, pass a note and get whatever the float is in the till," he said. "When you consider these guys might split $300,000 five ways – that's not a lot of money for such high risk."

Wednesday, March 20, 2013

Ex-banker guilty of embezzlement in Arkansas

A former Fort Smith bank official pleaded guilty Tuesday in federal court to a charge she embezzled $330,000 from an elderly woman she was assisting with her finances while the woman underwent medical treatment in Arkansas.

Woman sentenced to probation for embezzlement in Kansas

A former employee of a northeast Kansas credit union has been sentenced in federal court to two years of probation for embezzling $85,000 from the company.
The U.S. Attorney's office says Deborah Bomia, of Enterprise, must also pay $85,000 in restitution to Enterprise Credit Union under the sentence she received Tuesday.
Bomia pleaded guilty last July to the crime, which occurred between April 2005 and August 2011. She admitted kiting checks between accounts in her name at the credit union to create fictitious balances.
Prosecutors said Bomia would record a large deposit in the credit union's general ledger near the end of the month but not make the deposit for several weeks, when another large check would be drafted out of her credit union checking account.

Sanger woman pleads guilty to embezzling from the bank in California

A former Sanger bank employee pleads guilty to embezzling from the bank she worked at.
50-year-old Mary Helen Perez pleaded guilty yesterday to stealing and embezzling about $250,000 from a federally insured bank.
According to her plea agreement, Perez was employed as the Assistant Customer Service Manager at Westamerica Bank in Sanger and had been an employee of that bank for approximately 29 years.
From May 2007 until October 2011, Perez made approximately 78 cash withdrawals from seven customers’ bank accounts without the knowledge or authorization of the account holders. She deliberately targeted customers that she believed trusted her. Perez filled out withdrawal slips on the victims’ bank accounts and either forged their signatures or wrote an “X” on the signature line of the withdrawal slips. Perez spent some of the embezzled funds for personal expenses, but she spent the overwhelming majority of the funds at casinos.
According to court documents, Perez took several steps to hide her embezzlement from the bank and her victims. She told some of the bank customers who questioned her about the unauthorized withdrawals that there would be fees charged for investigating the account discrepancies.
Perez also sought to conceal her embezzlement by putting some of the victims’ bank statements on “hold” status so the she would receive them at the bank, where she destroyed them. As part of her plea agreement, Perez agreed to pay back Westamerica Bank the $249,793 it lost as a result of her embezzlement.
This case is the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorney Christopher Baker is prosecuting the case.
Perez is scheduled to be sentenced on June 10, 2013, before U.S. District Judge Lawrence J. O’Neill. The maximum statutory penalty she faces is 30 years in prison and a $1 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables

Saturday, March 16, 2013

Former Clarksville bank teller charged with embezzling more than $60K in Tennessee

The Tennessee Bureau of Investigation has levied more charges against a former Clarksville bank teller accused of stealing more than $60,000 from her employer.
Kristy Hodges, 30, of Cunningham, Tenn., was indicted in the March term of grand jury and charged with 43 additional counts of false bookkeeping and one count of theft over $60,000.

She was arrested on March 12 and booked into the Montgomery County Jail on $5,000 bond.

In October 2012, TBI arrested her on one count of theft over $60,000, two counts of false entries over $1,000 and seven counts of false booking entries over $10,000.

In September of 2012, the 19th Judicial District Attorney General requested TBI investigate allegations of embezzlement by Hodges, who was head teller at Capital Bank located at 25 Jefferson St. Hodges allegedly stole approximately $64,000 between 2008 and 2012, according to a previous report.

Hodges will be arraigned in circuit court in early April.

The Tennessee Bureau of Investigation has obtained even more indictments against a former Clarksville bank teller who was initially arrested in October for multiple charges.

Last October, 30-year-old Kristy Hodges of Cunningham, Tennessee, was charged with one count of theft over $60,000, two counts of false entries over $1,000 and seven counts of false booking entries over $10,000.

On Tuesday, Hodges was indicted on an additional 43 counts of false bookkeeping and one count of theft over $60,000.

Steven Hodges, Kristy's brother, told Nashville's News 2 that she worked at the Capital bank branch on Jefferson Avenue until shortly after her father died in August 2012.

In September, the 19th Judicial District Attorney General requested the TBI launch an investigation into allegations of embezzlement by Hodges.

She is accused of stealing approximately $64,000 between 2008 and 2012.

Steven Hodges also said that the family doesn't believe Kristy took the money.

He said he doesn't expect his sister to be convicted.

Thursday, March 14, 2013

Former Hebron Savings Bank employee sentenced for embezzlement

former vice president of Hebron Savings Bank in Wicomico County was sentenced to 18 months in prison for embezzlement and ordered to pay $456,665 in restitution, federal prosecutors said Thursday.
Wanda Henderson, 56, of Westover had used her position at the bank, including her role as executive assistant to president, to manipulate bank records and receive fraudulent loans over a period from 2005 until April 2011, according to the U.S. Attorney for the District of Maryland. Over that time, Henderson had secured 20 fraudulent loans for herself and family members worth more than $680,000, with most of that ending in default, prosecutors said.

According to prosecutors, Henderson created fraudulent loan applications, then got them approved by forging the signatures of the president and other bank officials. She also forged the initials of other employees so the money could be transferred into checking accounts owned by her and a family member, prosecutors said.

Henderson hid the theft by changing bank records and taking out new loans to repay older loans when they came due, prosecutors said.

Henderson could not be reached for comment.

Hebron Savings Bank, founded in 1910, had assets of $500,085 at the end of December, according to the Federal Deposit Insurance Corp. Bank officials could not be reached for comment Thursday.

Saturday, March 9, 2013

Bridgeport Woman Accused of Embezzling From Harrison County Federal Credit Union in West Virginia

The Nutter Fort Police Department has arrested a Bridgeport woman and charged her with three counts of embezzlement.
Lisa Marie Farrell, 28, a former employee of the Harrison County Federal Credit Union, is accused of embezzling $28,000, according to Kelly Amodio, branch manager.
Farrell is out on a $15,000 bond.
The Harrison County Sheriff's Department is assisting with the case.

Thursday, March 7, 2013

Eddington Pleads Guilty to Fraud, Embezzlement in Missouri

Irvin R. Eddington Jr., 42, former vice president and manager of the Ellington Branch of Peoples Community State Bank, entered a guilty plea last week in U.S. District Court to charges of bank fraud and embezzlement.
Attorneys say Eddington created fraudulent PCSB money orders in the amount of approximately $49,000 funded by advances from customer lines of credit and forging the customers names to obtain cash or to pay his bills.Also, from January 2004 through October 2011, prosecutors say Eddington created and issued a number of fraudulent unsecured irrevocable letters of credit to an associate in the name of the bank worth approximately $1,340,896.
Based on loan defaults to date, PCSB is liable for approximately $674,336 of the potential $1,340,896 loss.
Sentencing for Eddington has been set for May 20, 2013, by U.S. District Judge Carol E. Jackson. The penalty for each of the two charges is a maximum of 30 years imprisonment and up to $1 million in fines.
The charges were originally filed Sept. 19, 2012, but Eddington’s lawyer filed a motion to dismiss the second count of the indictment.
Judge Jackson referred all pretrial matters in this case to United States Magistrate Judge Lewis M. Blanton in the Cape Girardeau office for determination and recommended disposition, where appropriate.
On Dec. 12, 2012, Judge Blanton filed a report and recommendation with respect to the defendant’s motion to dismiss Count Two of the indictment. The defendant filed timely objections to which the United States has responded.
Magistrate Blanton found, and Judge Jackson agreed in an opinion delivered Feb. 4, that the allegations in Count Two are sufficiently specific to apprise the defendant of the conduct that is deemed unlawful. Further, the factual allegations, if proved, would be sufficient to establish a violation of federal law.
Following the denial of the defense’s motion to dismiss the second charge, Eddington agreed to plead guilty to both charges.
In addition to charges previously described, Eddington also admitted to perpetrating additional fraudulent schemes on PCSB as reported by the Daily American Republic on Friday, March 1.
On March 11, 2010, Eddington, in an effort to circumvent Federal Reserve regulations governing insider lending to bank officers, approved a nominee loan to two customers on the bank for $45,000.
He reported the loan to PCSB; however, did not report he was receiving the proceeds of the loan. The loss to PCSB for this scheme was $58,500.
On Aug. 4, 2011, the PCSB loan committee approved a $249,000 loan to an associate of Eddington, who misrepresented collateral for the loan by providing a fraudulent title insurance policy as part of the loan application.
Finally, when the $249,000 loan was presented for approval, Eddington failed to disclose that the associate would receive $56,114 cash from the loan proceeds.
The loan committee would not have approved the loan had they known the loan was “secure” by different property, the lack of title insurance and the cash payout to the borrower. This loan went into default and was charged off by the bank.

Monday, March 4, 2013








Court records state Buchholz, between 2009 and 2011, used her position at Signature Bank to embezzle at least $306,000.

“We are disheartened that a former employee abused the trust our customers and coworkers placed in her every day,” said President and CEO Robert Thomas in a press release. “Unfortunately, fraud is more common today because of economic conditions and banks are not immune, despite the high level of controls we have. With the help of an outside forensic accountant, we have evaluated our internal processes and procedures to ensure we have the proper safeguards in place.”

Buchholz pleaded guilty to one felony count of theft/embezzlement/misapplication by a bank officer. That crime carries a maximum sentence of 30 years in prison and a $1 million fine.

Bank executives were initially made aware of some violations of bank policies and procedures and some irregularities with loans originated by Buchholz. No other bank employees were involved.

As the internal investigation proceeded, the bank reports that it met with each affected customer to inform them of the situation.

“We took swift action to stop the fraudulent activity and appreciate all the hard work law enforcement has put into this investigation to ensure that this individual is held accountable for her actions,” Thomas said. “Our customers are very loyal and understand that we are a federally insured depository institution. Any financial risk is to the bank, not to our customers.”

Signature Bank carries special insurance to protect it against fraud and dishonesty by employees. The bank employs more than 100 people at eight branches, with headquarters in Bad Axe.
No Signature Bank deposit customer incurred a financial loss as a result of a recent criminal activity by a former employee, bank officials announced Monday.

The accounts of about 20 Signature Bank customers were the subject of the fraudulent activity and all customers involved have been notified of the issue, the bank announced. It said no loan customers have been required to pay any amounts contrary to their loan agreements or pay any amounts improperly credited as a result of the fraud.

Former loan representative Jill M. Buchholz of Pigeon was sentenced last week to 18 months in federal prison and ordered to pay $186,000 in restitution to the bank. Federal Judge Thomas L. Ludington sentenced her in U.S. District Court in Bay City.
No Signature Bank deposit customer incurred a financial loss as a result of a recent criminal activity by a former employee, bank officials announced Monday.

The accounts of about 20 Signature Bank customers were the subject of the fraudulent activity and all customers involved have been notified of the issue, the bank announced. It said no loan customers have been required to pay any amounts contrary to their loan agreements or pay any amounts improperly credited as a result of the fraud.

Former loan representative Jill M. Buchholz of Pigeon was sentenced last week to 18 months in federal prison and ordered to pay $186,000 in restitution to the bank. Federal Judge Thomas L. Ludington sentenced her in U.S. District Court in Bay City.

Saturday, March 2, 2013

Bank Employee From Ridgefield Accused Of $739,000 Theft in New York

 A Larchmont bank employee accused of transferring $739,000 from customer accounts to his own was arraigned Friday, Westchester District Attorney Janet DiFiore announced.
Jeremy Winter, of Ridgefield, Conn., was charged with three counts of second-degree grand larceny, second-degree forgery, first-degree falsifying business records and first-degree scheme to defraud, all felonies. He worked at TD Bank, 107 Chatsworth Ave.
The defendant allegedly used the money to pay off personal loans and contractors he hired to do home improvements, DiFiore said. He continued to take money from customers to replenish previous victims' accounts, which the District Attorney's press release called "robbing Peter to pay Paul." 
Winter also is accused of forging a customer’s signature on a withdrawal slip for $110,000, creating a false business record. The bank reported Winter to the Larchmont police in September. He was arrested Thursday, Feb. 28, and arraigned in Larchmont Village Court. Bail was set at $100,000.
Winter is due in Westchester County Court May 14. He faces a maximum sentence of 15 years in prison on each of the counts.
Assistant District Attorney Robert Mayes of the Economic Crimes Bureau is prosecuting the case

Friday, March 1, 2013

Ex-PlainsCapital employee admits embezzlement in Texas

Ex-bank employee admits embezzlement.
Riley Paige Trotter pleaded guilty Thursday to a federal bank embezzlement charge, admitting she stole more than $36,000 from PlainsCapital Bank over 27 months.
Trotter, who was a part-time teller supervisor, faces a maximum sentence of 30 years in prison and a fine of up to $1 million. The sentence also requires at least three years of supervised release.
According to court documents, an audit in July 2012 showed the bank’s cash vault was short $20,000, while Trotter’s teller drawer was short more than $16,000.
Court documents say Trotter admitted the theft to the bank. She began taking the money in May 2010.
U.S. District Court Judge Sam R. Cummings accepted the plea. No sentencing date was immediately set.

Former VP of Hill County bank released on bond for embezzlement charge in Texas

A former First National Bank of Whitney vice president who is scheduled to plead guilty next week to embezzling more than 
$6 million from the institution was released on bond Thursday.
U.S. Magistrate Jeffrey C. Manske set a $100,000 unsecured bond for Mary Helen “Murty” Lane, who worked for 27 years at the bank. Lane, 57, who is living with family members in Houston, is set to plead guilty March 7 to theft, embezzlement or misapplication by a bank officer or employee, said her attorney, John Floyd, of Houston.
She is charged with embezzling more than $6 million from the Hill County bank during a 10-year 
Before releasing her on bond, the judge asked if Lane constitutes a flight risk because of the amount she allegedly stole.
Assistant U.S. Attorney Mark Frazier told Manske the government does not consider her a flight risk and agreed to the unsecured bond, which means Lane was released Thursday without having to pay anything but will be liable for $100,000 if she misses a court date.
Lane had not been arrested and made arrangements to be in court Thursday for her initial appearance.
Dressed in a black-and-white pattern jacket and black pants, Lane told Manske that she is a high school graduate with 30 hours of college credit as she stood in line with two men wearing jail clothes who are charged with distribution of crack cocaine and two others charged with weapons violations.
Lane, who resigned as vice president in January 2012, was accompanied to court by her brother, her sister and her brother-in-law, Floyd said.
Michael Farquhar, president of the bank, also attended the hearing Thursday. He declined comment as he left court.
Floyd said he could not comment at length while the case remains pending. He declined to say if Floyd has a gambling problem or if she would be able to repay any of the money she reportedly took from the bank.

Gambling trips
Federal authorities have alleged in court documents that Lane used her reportedly ill-gotten gains to take lavish gambling trips and to buy expensive
sports cars.
A co-worker told an FBI agent that Lane kept so much cash on hand that she went home on a few occasions to get cash when the bank ran out of $100 bills.
Lane retrieved
$100 bills from her home and brought them back to use at the bank in exchange for smaller bills, according to court records.
Federal authorities say in court records she removed large amounts of cash from the vault and then created false bank documents to hide her thefts and to “fool bank employees and bank
Lane used the “majority of the embezzled money” to gamble at casinos in Las Vegas, Oklahoma and Louisiana, court documents
Lane often gave her co-workers $100 bills, claiming she was a big winner at the casino, records
If convicted, Lane faces up to 30 years in prison and a fine up to $1 million.

The former vice-president of the Whitney First National Bank stands accused of stealing more than $6 million from her employer. In the federal information filed against her, she is facing an embezzlement charge.

Investigators claim that the woman took huge sums of money from the bank's safe and then falsified bank documents to hide the money that had been taken. Allegedly, the woman used most of the money to gamble. When she would return from trips, investigators say the woman handed out money to her co-workers and told them she had won it gambling.

Police claim that the bank once ran out of $100 bills, so the woman went to her home and retrieved some she had. She then exchanged them for $20 bills at the bank. She is also accused of buying expensive cars with money she allegedly stole.

The woman worked at the bank for 27 years and resigned in January 2012. According to court documents, the alleged embezzlement scheme went on for 10 years.

In a case where a defendant is charged with embezzlement, the prosecution must prove that the defendant took money or other property and intended to take it without the owner's consent. If the defendant lacked this intent, then she cannot be convicted of embezzlement.

The penalty for embezzlement is determined by the value of the goods or amount of money that was taken. The smallest penalty is a fine of less than $500 for taking less than $50. However, the penalty for taking $200,000 or more is a fine of up to $10,000 and up to ninety-nine years in prison.