September 24, 2009

FORMER BENNINGTON BANK MANAGER INDICTED ON BANK FRAUD

The Office of the United States Attorney for the District of Vermont announced that yesterday the federal grand jury in Rutland, Vermont, charged former Chittenden Bank branch manager Kevin Thivierge with three counts of misapplication of bank funds, in violation of 18 U.S.C. §656. The indictment alleges that Thivierge, 44, a bank officer, approved three loans totaling $85,000 in the name of bank customer where the loan proceeds were used for Thivierge’s personal benefit. The indictment does not identify the bank customer. Thivierge, who resides in the Bennington area, served as manager of the main Bennington Branch and the Bennington Square Branch of Chittenden Bank from June 2003 to March 2007.

Thivierge faces a maximum sentence of 30 years of prison and a $1,000,000 fine on each charge if convicted, although the actual sentence will be decided by the court after consideration of the federal sentencing guidelines. The United States Attorney emphasizes that Thivierge has only been charged and should be presumed innocent until proven guilty.

The case was investigated by the Federal Bureau of Investigation and the Bennington Police Department. The prosecutor is AUSA Paul Van de Graaf. Thivierge is represented by John Pacht, a Burlington attorney.