News and Press Releases

News and Press Releases

Former bank manager admits to stealing $80,000 from bank

March 6, 2012

MINNEAPOLIS—Yesterday in federal court in St. Paul, the former vice president and
branch manager of the Star Bank in Bertha, Minnesota, admitted to stealing $80,000 from the
bank. Kenneth Marlyn Ashbaugh, age 67, of Bertha, pleaded guilty to one count of bank theft.
Ashbaugh, who was charged on January 27, 2012, entered his plea before United States District
Court Judge Donovan W. Frank.

In his plea agreement, Ashbaugh admitted that from September 1, 2010, through June 1,
2011, he stole approximately $80,000 from the bank. In addition, Ashbaugh admitted that
during the same period, he fraudulently obtained loans from the bank by misrepresenting either
the identity of the individual applying for the loan or the applicant’s ability to repay the loan.

For his crime, Ashbaugh faces a potential maximum penalty of ten years in prison. Judge
Frank will determine his sentence at a future hearing. This case is the result of an investigation
by the Federal Bureau of Investigation and the Todd County Sheriff’s Office. It is being
prosecuted by Assistant U.S. Attorney Kimberly A. Svendsen.

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