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Former Bank Branch Manager Charged with Embezzlement

FOR IMMEDIATE RELEASE
August 4, 2010

Springfield, Ill. – A federal grand jury today returned an indictment charging a former bank employee, Renee M. Newman, 42, of Five Forks Drive, Springfield, Illinois, with embezzling funds from her former employer. The one-count indictment alleges that from September 2008 to June 2009, Newman, while employed as a vice president and branch manager at United Community Bank, embezzled more than $10,000, and used the money for her own purposes.

The charge is the result of an investigation by the Federal Deposit Insurance Corporation (FDIC) Office of Inspector General, in cooperation with United Community Bank. The case is being prosecuted by Assistant U.S. Attorney Jason M. Bohm.

The U.S. Clerk of the Court will issue a summons for Newman to appear in federal court for arraignment. If convicted, the offense of embezzlement by a bank employee carries a maximum statutory penalty of 30 years in prison and fines of up to $1,000,000. Final sentences are determined by the court. In imposing sentence, the court may consider federal sentencing guidelines, which include a defendant’s criminal history, the amount of loss, and other applicable factors.

Members of the public are reminded that an indictment is merely an accusation; the defendant is presumed innocent unless proven guilty.

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