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Former Illinois bank official pleads guilty to embezzlement

Posted February 08, 2018 6:00 am

The Associated Press

ROCK ISLAND, Ill. (AP) - A former vice president of a northern Illinois bank has pleaded guilty to embezzling almost $500,000 from the bank.

The U.S. Attorney's Office for Illinois' central district says 70-year-old Paul Lindsey admitted he embezzled at least $491,000 from Farmers National Bank in Geneseo (jen-uh-SEE-oh) between 2008 and 2016.

Lindsey was a vice president and trust officer at the bank. Prosecutors say he was able to transfer funds from customers' accounts to his own retirement account. They say the bank cooperated in the FBI investigation.

Lindsey entered a guilty plea Wednesday to one count of bank embezzlement. He's free on bond awaiting a June 7 sentencing hearing in federal court in Rock Island.

He faces up to 30 years in prison and a fine of up to $1 million.

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