Private Detective, Bookkeeper for Northern KY Bank Admits to Embezzlement

A longtime bookkeeper for a Northern Kentucky Bank admitted in federal court that she embezzled more than $100,000 from her employer over a three-year period.

Linda Penick, 58, of Dry Ridge, Kentucky, pleaded guilty on Tuesday to bank embezzlement before U.S. District Court Judge David L Bunning.

Penick admitted that, from 2010 until 2013, she defrauded the Grant County Deposit Bank by transferring bank funds to her personal account and issuing cashier checks and money orders to herself. Many of these checks and money orders were made payable to her husband. Penick admitted that she used the money to pay bills and taxes.

According to the plea agreement, Penick embezzled $118,775.00 over a three-year period. Penick worked at the bank for 23 years.

Penick waived her right to be indicted by a grand jury and pled guilty to the embezzlement charge by way of an information.

Kerry B. Harvey, U.S. Attorney for the Eastern District of Kentucky, and Perrye K. Turner, Special Agent in Charge, FBI, jointly made the announcement.

The investigation was conducted by the FBI. The U.S. Attorney’s Office was represented by Assistant U.S. Attorney Laura K. Voorhees.

Penick is scheduled to be sentenced on July 22, 2014. The bank embezzlement offense carries a maximum penalty of 30 years in prison and a maximum fine of $1 million. However, any sentence will be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statutes.

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