Former bank manager sentenced for stealing $80,000 from bank
FOR IMMEDIATE RELEASE
July 17, 2012
MINNEAPOLIS—Earlier today in federal court in St. Paul, the former vice president and branch manager of the Star Bank in Bertha, Minnesota, was sentenced for stealing $80,000 from the bank. United States District Court Judge Donovan W. Frank sentenced Kenneth Marlyn Ashbaugh, age 68, of Bertha, to five years of probation, along with 30 days in a county jail, six months of home confinement, and 500 hours of community service on one count of bank theft. In addition, Ashbaugh was ordered to pay more than $102,000 in restitution. Ashbaugh was charged on January 27, 2012, and pleaded guilty on March 5, 2012.
Following today’s sentencing, J. Chris Warrener, Special Agent in Charge of the Federal Bureau of Investigation’s Minneapolis Field Office, said, “Today’s sentence of Mr. Ashbaugh serves as a culmination of the fine investigative efforts which were put forth by investigators from both the Todd County Sheriff’s Office and the FBI.”
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.
This case was prosecuted by Assistant U.S. Attorney Kimberly A. Svendsen.
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