Friday, November 26, 2010

Former Illinois Bank Manager Charged With $835K Embezzlement

Stephen R. Bradley, 64, of Petersburg, Illinois, was charged with embezzling nearly $835,000 from Petefish, Skiles & Co. Bank, a local financial institution where he had served as an executive and bank manager. According to authorities, Bradley's scheme spanned more than 7 years, from January 2003 until March 1, 2010. He had been employed by the bank since 2000. According to the bank, the embezzlement involved the creation of bogus loans. The total amount misappropriated is believed to be $834,945. Bradley faces up to 30 years in prison, a $1 million fine, plus restitution if convicted.

Read the story here and here.

No comments: