Iowa Woman Pleads Guilty To Embezzling $123K From Bank

From The Gazette on 2/21/2015:

A former Manchester bank secretary pleaded guilty Friday to embezzling over $123,000 from the bank over a two-year period.

Ann Marie Sperfslage, 54, pleaded guilty in U.S. District Court to one count of embezzlement by a bank employee. During the hearing, Sperfslage, the former secretary to the bank’s executive vice president, admitted embezzling $123,181 from May 2008 to May 2010 from First State Bank. She also admitted to embezzling with the intent to defraud the bank.

According to the plea agreement, she had worked at the bank since 1992. She was the vice president’s secretary and also worked with the bank’s software and computer systems until she was terminated in 2010. According to the plea agreement, Sperfslage created false electronic records and documents showing that the bank had loaned her and her husband more money than the bank actually loaned them. They had two home equity loans for $50,000 and $35,000 and another loan for $3,500, but she changed the electronic records to $99,700 and $90,000 for the home equity loans and $18,000 on the other loan.

She also deposited other customers’ deposits in her accounts so that it appeared as if she was making payments on the loan, according to the plea agreement.

Sperfslage also reversed the false deposits and then deposited the funds into the correct accounts before the customers and bank discovered she had misapplied the deposits. She misapplied $81,946 in customers’ deposits over the two years, the plea deal said.

She faces up to 30 years in prison and fines up to $1 million. She also will be ordered to pay restitution.