Pennsylvania Woman Sentenced for Swindling Bank

Roberta Stutzman, 63, of Pennsylvania, was sentenced today to 75 months in prison for defrauding National Penn Bank, in Boyertown, PA, of approximately $4.4 million, announced United States Attorney Zane David Memeger. Stutzman pleaded guilty to bank fraud, bank embezzlement, and tax fraud, on March 19, 2010, admitting that while employed at National Penn Bank, she misappropriated $4,414,538, of the Bank's money. Stutzman spent much of the embezzled funds on expensive vehicles, a vacation home, real estate, costly jewelry, paid vacations, and gifts, as well as transferred hundreds of thousands of dollars to third parties. Stutzman also filed a false tax return in calendar year 2007 by not reporting approximately $719,571 in additional income from the embezzled funds. Posted in: Internal Fraud