Gregory Gerard Meyer, 39, of Wayzata, Minnesota has pleaded guilty to embezzling $639,820 from Norwood Young America, a community bank chain, where he had been employed as an investment manager. According to prosecutors, Meyer stole the funds from client accounts between March 2006 and October 2008 and transferred the funds into his own accounts for his own personal use. Meyer faces up to 30 years in prison upon sentencing.
Read the story here.
Update (9/2/10): Meyer, now 40, was sentenced to more than 2 years in prison in this case. He pleaded guilty last November.
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