Loan officer admits to embezzling from FirstBank in Middle Tennessee
NASHVILLE, Tenn. (AP) – Federal prosecutors say a former bank employee has admitted to embezzling more than $130,000 in a fraudulent loan scheme.
Officials say 47-year-old Sheila Burns, of Waverly, pleaded guilty this week to one count of embezzling funds from FirstBank. Prosecutors say she admitted to stealing the money by falsifying loan documents and by modifying existing loans using the names of various bank customers and forging their signatures on loan documents.
Authorities say the former loan assistant used the money to pay for bills, personal expenses and to pay down credit card debt.
Prosecutors say Burns faces up to 30 years in prison and a fine of up to $1 million and will be ordered to pay restitution to the bank.
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