COVINGTON, Ky. – A former Grant County bank senior vice president pled guilty Tuesday to embezzling more than $100,000 from where she worked during a three-year period.
Linda Sue Fields Penick appeared in United States District Court in Covington where she confessed to stealing $118,775.60 between August 2010 and July 2013 from the Grant County Deposit Bank.
According to court documents, Penick worked at the deposit bank for 23 years. She was vice president for 5 years and head bookkeeper for 15 years. She also was in charge of payroll for 20 years.
Penick admitted that over the past three years she issued approximately 82 cashier’s checks for her own benefit and made approximately 43 computer entries to transfer funds to her account from the bank’s cashier’s account.
Most of the money was made payable to her husband, Jerry Penick.
Portions of the stolen funds were used to pay bills and taxes as well. The FDIC insured the stolen funds during the time of the offense.
Authorities convicted Penick on one count of bank embezzlement under the terms of her plea deal. Penick faces up to 30 years in prison, fines up to $1 million and no more than 5 years supervised release.
Judge David Bunning released Penick on her own recognizance until her sentencing hearing scheduled for July 22, 2014 at 11 a.m.