Cumberland Woman Pleads Guilty to Bank Embezzlement
Madison, Wis. - John W. Vaudreuil, United States Attorney for the Western District of Wisconsin, announced that Renee J. Brown, 37, of Cumberland, Wis., pleaded guilty yesterday in U.S. District Court in Madison to bank embezzlement.
During the plea hearing, Brown acknowledged that in February 2014, she embezzled $50,000 from her employer, Dairy State Bank in Rice Lake, Wis., to cover a previous embezzlement from the Island City Snowmobile Club, which occurred while she was treasurer of that organization.
U.S. District Judge James D. Peterson scheduled sentencing for March 13, 2016. Brown faces a maximum penalty of 30 years in federal prison, a $1 million fine, and a five-year period of supervised release following any prison term. As part of her plea agreement, Brown will be required to make full restitution to Dairy State Bank and the Island City Snowmobile Club.
The charge against Brown was the result of an investigation conducted by the Eau Claire office of the Federal Bureau of Investigation and the Barron County Sheriff’s Department. The prosecution of this case is being handled by Assistant U.S. Attorney Grant C. Johnson.