Wednesday, June 2, 2010

Former Washington State Banker Sentenced For Embezzling $112K

Jeffrey Lynn Giddings Jr., 27, of Tacoma, Washington, was sentenced to one year in prison, plus six months of home detention and then five years of supervised release for embezzling $112,626 from Key Bank, where he had been employed as an operations manager. Giddings must also pay full restitution. According to prosecutors, over a one and a half year period from October 2007 to February 2009, Giddings used three different schemes to embezzle funds of three different bank customers. The schemes included opening a line of credit in the name of one of his relatives and withdrawing funds from an elderly couple's account without their knowledge and consent. Giddings was indicted for bank fraud in November 2009 and plead guilty to the charge in December 2009.

Read the story here and here.

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