News and Press Releases

News and Press Releases

Bank teller pleads guilty to embezzling money from bank

FOR IMMEDIATE RELEASE
May 29, 2013


MINNEAPOLIS—Earlier today in federal court, a 64-year-old woman from the southeastern Minnesota community of Wykoff pleaded guilty to embezzling approximately $35,520 from the Security State Bank where she was employed as the head teller. Cheryl Lynn Holzer pleaded guilty to one count of bank embezzlement. Holzer, who was charged on May 3, 2013, entered her plea before United States District Court Judge David S. Doty.

In her plea agreement, Holzer admitted that between December 2010 and February 2012, she took bundles of cash from the bank’s vault for her personal use, primarily to pay her mortgage and other bills. She worked at the bank, located in Wykoff.

For her crime, Holzer faces a potential maximum penalty of 30 years in prison. Judge Doty will determine her sentence at a future hearing, yet to be scheduled. This case is the result of an investigation by the Federal Bureau of Investigation. It is being prosecuted by Assistant U.S. Attorney Thomas Calhoun-Lopez.

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