Thursday, March 25, 2010

Former New Hampshire Bank Exec Sentenced For Embezzling $120K

Gary K. Ellis, 57, of Newmarket, New Hampshire, was sentenced to six months in prison for embezzling at least $120,000 from River Valley Credit Union in Brattleboro, Vermont, where he had served as chief executive officer. According to prosecutors, Ellis took extra salary and bonus from the bank over a four year period. He was fired in 2005 after the misappropriation came to light and ultimately indicted in December 2008. With the sentence, Ellis must also pay restitution of between $120,000 and $200,000 to be determined in a separate hearing.

Read the story here and here.

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