A Gilberts woman who is a former executive of a Chicago-based bank is accused of stealing more than $3 million over 15 years, and using the money primarily to gamble, authorities said.
Dora Asmussen, 52, who held various positions at Burling Bank including chief operating officer and executive vice president, was charged with three counts of bank fraud that occurred from approximately 1997 to August 2012, according to a news release from Gary S. Shapiro, acting U.S. Attorney for the Northern District of Illinois, and William C. Monroe, acting special agent-in-charge of the Chicago office of the FBI.
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A federal grand jury returned an indictment on Thursday that also seeks forfeiture of $3,074,532. Asmussen will be arraigned at a later date in U.S. District Court, the release says.
Asmussen did not respond to requests for comment.
According to the indictment, Asmussen stole funds from the bank by fraudulently issuing checks drawn on her personal account at the bank and cashier's checks, as well as misappropriating customers' checks. She then used banks funds to cover payment and made false entries in the bank's internal records to steal the funds and conceal the thefts, the news release states.
To conceal her scheme, Asmussen provided false information to the Federal Deposit Insurance Corporation, state regulators, the bank's board of directors, and its auditors, the release says.
Burling Bank President Michael Busch said the bank discovered the irregularity internally, and promptly notified law enforcement and the bank's regulators. "At no time were customers' funds impacted, and the bank continues to be well-capitalized," Busch said. He declined to say more, citing the pending investigation.
Bank fraud carries a maximum penalty of 30 years in prison and a $1 million fine, or an alternate fine totaling twice the loss or twice the gain, whichever is greater. Restitution is mandatory. The FDIC's Office of Inspector General also assisted in the investigation.