Tuesday, June 7, 2011

West Virginia Woman Pleads Guilty To Embezzling $200K From Bank

Bonnie Jean Bain, 60, of Belle, West Virginia, has pleaded guilty to charges she embezzled at least $200,000 from BB&T bank, where she had been a 30 year employee, most recently as a supervisor.  According to authorities, Bain siphoned funds from the bank over a period of 3 1/2 years, from May 2004 until October 2007 and made false entries in the banks books to conceal the thefts.  Prosecutors alleged that Bain used various methods to hide the cash shortage, including recording fictitious cash dollar amounts in her teller drawer and vault by "force balancing" or by creating fictitious cash out tickets.  She was indicted on one count of bank embezzlement and 25 counts of false entries this past January.  Bain is scheduled to be sentenced on September 8, 2011 and faces up to 30 years in prison, plus fines and restitution.

Read the story herehere and here.

Update (2/6/12): Bain was sentenced to 30 months in prison and ordered to pay $293,376 in restitution.  Prosecutors had alleged that Bain embezzled at least $640,000, although the bank believes it lost $1.2 million as a result of the embezzlement.

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