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Saturday, August 2, 2014

Longtime bank employee embezzled $350,000

A former bank employee was sentenced in federal court Wednesday to serve a year in jail and make full restitution to Discover Financial Services in the amount of $350,000 for funds she embezzled from the bank during her employment.
Kimberly Y. Drummond, 47, of Middletown had worked for the bank in New Castle for nearly 20 years in a check processing role.
Sometime around November 2008, she started falsifying entries in Discover's books and records, resulting in the bank issuing duplicate checks, which she then deposited in her personal bank accounts, authorities said.
Drummond used the checks to pay her mortgage lender and purchase luxury items for herself and her family.
The embezzlement continued until August 2012 when it was found out.
During the course of the 4-year scheme, Drummond had embezzled more than $350,000 from Discover, said Kimberlynn Reeves, spokeswoman for the U.S. Attorney's Office in Delaware.
"While defense counsel argued for a probationary sentence and the government requested a guideline sentence of 27 months, the Court's sentence sends a clear message that incarceration is appropriate in situations where individuals abuse their positions of trust within the local banking community," said U.S. Attorney Charles Oberly III.
Drummond was sentenced to 12 months and full restitution for her years-long embezzlement of the federally-insured financial institution.

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