Post by pavel on May 12, 2016 22:21:43 GMT -6
Arkansas bank workers admit to fraud; 3 conspired to steal nearly $4M in cash
Two tellers and a head cashier at a Walnut Ridge bank worked together in secret for 10 years to steal nearly $4 million in cash from the vault, they admitted Tuesday and Wednesday to a federal judge in Little Rock.
The three women waived an opportunity to have the allegations against them reviewed by a federal grand jury, instead pleading guilty to bank-fraud conspiracy charges filed in open court, for which each expects to serve 31/2 to nearly five years in prison and pay $1,317,000 in restitution.
U.S. District Judge Kristine Baker will sentence them at a later date, after reviewing a presentence report that has yet to be prepared. If she agrees with the negotiated sentences, she will accept their pleas then. If she doesn't accept the proposed sentence range, the women can withdraw their pleas and go to trial. If convicted by a jury, the crime is punishable by up to 30 years in prison and a fine of up to $1 million.
The women are Brenda Montgomery, 57, of Walnut Ridge, who was a teller at the Walnut Ridge branch of First National Bank of Lawrence County; Peggy Sutton, 61, of Biggers, who was the head teller; and Cindy Tate, 57, of Walnut Ridge, who was the head cashier.
Read more: www.arkansasonline.com/news/2016/may/12/walnut-ridge-bank-workers-admit-to-frau/
Two tellers and a head cashier at a Walnut Ridge bank worked together in secret for 10 years to steal nearly $4 million in cash from the vault, they admitted Tuesday and Wednesday to a federal judge in Little Rock.
The three women waived an opportunity to have the allegations against them reviewed by a federal grand jury, instead pleading guilty to bank-fraud conspiracy charges filed in open court, for which each expects to serve 31/2 to nearly five years in prison and pay $1,317,000 in restitution.
U.S. District Judge Kristine Baker will sentence them at a later date, after reviewing a presentence report that has yet to be prepared. If she agrees with the negotiated sentences, she will accept their pleas then. If she doesn't accept the proposed sentence range, the women can withdraw their pleas and go to trial. If convicted by a jury, the crime is punishable by up to 30 years in prison and a fine of up to $1 million.
The women are Brenda Montgomery, 57, of Walnut Ridge, who was a teller at the Walnut Ridge branch of First National Bank of Lawrence County; Peggy Sutton, 61, of Biggers, who was the head teller; and Cindy Tate, 57, of Walnut Ridge, who was the head cashier.
Read more: www.arkansasonline.com/news/2016/may/12/walnut-ridge-bank-workers-admit-to-frau/