Tuesday, July 28, 2009

Louisiana Banking Exec Pleads Guilty To $135K Embezzlement

Loretta Kathryn Balsamico, 51, of Covington, Louisiana, has pleaded guilty to embezzling $135,800 from Citizens Savings Bank where she had served as an assistant vice president. Prosecutors alleged that she had also falsified bank books and records in an attempt to cover-up her thefts. She is believed to have removed between $5,000 and $10,000 in cash per month from her teller drawer over more than a year period. Balsamico, who was terminated from the bank in 2007, faces up to 10 years in prison.

Read the story here and here.

Read the DOJ announcement here.

Read the criminal factual basis here.

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