Wednesday, November 25, 2009

Update: Former Texas Bank Exec Sentenced In $260K Embezzlement Case

Tracy Eugene Culp, 45, of Texarkana, Texas, was sentenced to 19 months in prison for embezzling $260,381.89 from Cass County Bank in Queen City, Texas, where he had been employed as a vice president and branch manager. Culp, who pleaded guilty to the charges last June, admitted he stole the money over a two year period between October 2005 and June 2007. According to prosecutors, Culp's scheme involved creating fraudulent loans and funnelling the money into his own personal accounts. Culp was also ordered to pay full restitution.

Read FraudTalk's original post on this story here.

Read the story here.

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