Saturday, February 12, 2011

Nevada Man Pleads Guilty To Embezzling More Than $3.7 Million From Accounts At Bank

Stephen Marich, 43, of Ely, Nevada, pleaded guilty last week to charges he embezzled more than $3.7 million from First National Bank of Ely where he had been employed as a vice president. According to authorities, Marich, who was also a Citycouncilman for the town of Ely, misappropriated funds from bank customer treasury bill accounts over a nine year period, from 2000 until early December 2009 when the scheme was discovered. Marich was reportedly confronted by bank officials at the time and he "skipped town" and a month later resigned his position with the municipality. Meanwhile, Marich's now ex-wife, Sudabeh Parsi Fahami, 41, was serving as an assistant US Attorney in Reno. She is not expected to be charged in the case. Marich, who apparently stole the money to pay for his gambling habit, is scheduled to be sentenced on May 11, 2011.

Read the story here, here and here.

Update (5/22/11): Marich was sentenced to 78 months in prison. A bank audit found that the amount Marich embezzled was nearly $5.9 million, instead of the $3.7 million first reported.

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