Sidney Bank Exec. Pleads Guilty to Embezzling Nearly $1.4 Million
LINCOLN, Neb. (AP) -- A former executive at a western Nebraska bank has pleaded guilty to stealing almost $1.4 million from the branch he ran.
Matthew Monheiser pleaded guilty in federal court Friday to stealing $1,364,953.66 from the former First National Bank in Sidney.
The 38-year-old says he has already repaid $500,000 to the bank and made arrangements to pay another $1 million in restitution.
Prosecutors say Monheiser took the money between 2003 and 2012. Most of the money was obtained by creating loans or issuing cashier's checks in customers' names, increasing existing loans or creating new loans in customer names.
Monheiser also took $82,000 in cash from the bank vault.
Monheiser is scheduled to be sentenced on June 24. Prosecutors agreed to recommend a sentence at the low end of the recommended range.