Monday, April 4, 2011

Washington State Man Sentenced For Embezzling $440K From Bank

Edgar Hugh Kelly, 37, of Tacoma, Washington, was sentenced to 33 months in prison for embezzling some $440,000 from the KBR Credit Union where he had been employed as a teller and an office manager. According to authorities, Kelly engaged in an "elaborate scheme" to misappropriate money from the credit union, which serves employees of Simpson Construction, over a period of "several years." The scheme reportedly involved strategically timed fund transfers and altered financial documents. Kelly's thefts were discovered after he submitted false documents to auditors. Kelly, who was originally charged in October 2010, plead guilty last November theft from a lending, credit, or insurance institution.

Read the story here and here.

Update: Kelly was sentenced to 33 months in prison.

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