A former senior vice president of Lakewood-based Front Range Bank has been sentenced to three months in prison for embezzling more than $92,000 from clients.
Candice White, 43, of Centennial, also was sentenced Wednesday by U.S. District Judge Raymond P. Moore to five years of supervised release and 200 hours of community service. And she must pay restitution of $92,780 to Front Range Bank. The bank has already reimbursed the clients whose money was stolen.
White had faced up to 30 years in prison, and fines of up to $250,000 for each of two counts of embezzlement that .
“As this case demonstrates, the Department of Justice and the U.S. Attorney’s Office takes seriously holding bank officials accountable for violations of federal law,” U.S. Attorney John Walsh said in a statement Wednesday.
Walsh’s office investigated the case with assistance from the FBI and the Special Inspector General of the Troubled Asset Relief Program.
She was charged with 37 felony counts and two misdemeanor counts.
The embezzlement took place between July 2009 and March 2011. White would request cashier’s checks from her clients and withdraw cash from escrow and other accounts. The 39 transfers ranged from $646 to $22,900, according to the indictment.
She resigned from Front Range Bank in April 2011. Bank officials did not catch onto the missing money until after she had left.
“White took advantage of unsuspecting bank customers who trusted her to keep their money safe. Instead, she deceived everyone by embezzling their money for her own personal use,” Thomas Ravenelle, FBI Denver special agent in charge , said in a statement. “The FBI will continue to work with our law enforcement partners to protect people’s bank accounts from embezzlers and other fraudulent schemes.”
Front Range Bank’s holding company is FRB Bancshares, and the bank has branches in Denver, Lakewood and Centennial.
