Former bank supervisor pleads guilty to theft
April 23, 2010
Total Loss:
Over $200,000
A former American Savings Bank supervisor has pleaded guilty to two theft charges involving money stolen from an elderly customer.
In return for Marilyn Demotta's plea Thursday, eight other charges of bank fraud and embezzlement were dropped.
Ninty-two-year-old Ada Lim and her family had sued the bank, claiming Demotta used her position to take hundreds of thousands of dollars from Lim. American Savings denied wrongdoing, but settled the suit for about $1 million.
Source:
Forbes.com/Associated Press
Posted in:
Internal Fraud