NEWARK, N.J. -- A former City Federal Savings Bank employee pleaded guilty of embezzling about $614,000 from the failed thrift in 1989, the U.S. attorney's office said.

Herb R. Edwards, who managed a branch of City Federal Mortgage Corp., the thrift's affiliate in Orlando, faces a maximum of 10 years in federal prison and fines as much as twice the amount gained in the scheme.

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