Wednesday, March 11, 2009

Maryland Woman Charged With Embezzling More Than $1 Million From Bank

Karen L. Baer, 47, of Westminster, Maryland, was sentenced yesterday to 33 months in prison for embezzling more than $1 million from Westminster Union Bank which became PNC Bank, where she worked as a teller. According to prosecutors, Baer's fraudulent activity began in June 2004 and continued through September 2007. She reportedly took $10,000 a week from the bank's "Due From Mercantile" account set to be sent to the Federal Reserve. Baer used the money for living expenses, vacations and college tuition for her children, according to the complaint. Baer, who was an employee of the bank and its predecessors since 1998 until she was fired in October 2007, plead guilty to ten counts each of bank fraud and false bank entries, in July 2008.

Read the story here and here.

Read the DOJ's announcements here and here.

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