Missouri Woman Pleads Guilty To $414K Bank Embezzlement

Laurine K. Calvert, 55, of Polo, Missouri, pleaded guilty to charges that she misappropriated $414,124 from Bank Northwest, where she had been employed as a teller and bank loan secretary. According to authorities, over a period of 7 years, from February 10, 2003 to February 8, 2010, Calvert misappropriated the funds from at least 5 customer accounts and through at least 4 fraudulent loans she created. Some of the fraudulent loan money was used to repay individual accounts she looted, but the bulk of it was used to enrich herself and her family and to pay for gambling junkets. Read the story here and here. Read the DOJ announcement here. Update (3/31/11): Calvert was sentenced to 23 months in federal prison and ordered to pay full restitution.