Banker sentenced for fraud, money laundering
April 23, 2009
Total Loss:
1.2 Million
The former senior vice president of Twin City Bank has been sentenced to four years and nine months in prison and ordered to pay $1.4 million in restitution for stealing bank funds. Brent Geels pleaded guilty in December to one count of bank fraud and one count of money laundering. Federal prosecutors said Geels fraudulently diverted $1.2 million into his own account over a number of years.
Source:
Arkansas News
Posted in:
Internal Fraud