Former Branch Manager Sentenced To Prison For $100,000 Theft

SAN DIEGO – A former supervisor at the Pacific Marine CU branch at Camp Pendleton was sentenced Monday to 18 months in federal prison for stealing $100,000 in cash from the branch nearly nine years ago.

Erin Lovellette, now 31, snatched a brick of tightly wrapped $100 bills – a stack about the size of a tissue box – while at work on May 2, 2002, according to prosecutors. Over the next few months she deposited about half of the money into a number of accounts at other financial institutions, always keeping the deposits under $10,000 to avoid the federal requirement that banks report currency transactions of $10,000 or more.

The deposits made up most of the evidence against Lovellette, who was not arrested until 2009. At the time, she was working at a financial institution in Idaho.

In addition to the theft, the jury convicted Lovellette of failing to pay taxes on the stolen cash.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER