This story appeared in Bank Digest.
Candice L. White, of Centennial, Colo., the former senior vice president at TARP recipient Front Range Bank, has pleaded guilty to two counts of embezzlement by a bank officer or employee in federal court, according to a SIGTARP release. She faces not more than 30 years in federal prison, and up to a $250,000 fine, per count of conviction.
SIGTARP said that according to the stipulated facts contained in the plea agreement, from at least July 2009 through March 2011, White knowingly and intentionally embezzled $92,930.27 from client accounts at Front Range Bank. The plea agreement calls for White to pay restitution in this amount back to the bank, which has already reimbursed its clients for their losses. According to SIGTARP's release, White embezzled this money by requesting cashier's checks and withdrawing cash from escrow accounts and other accounts that were not closely monitored by the victim account holders. She would then use the embezzled money for her own personal use.