Former bank official pleads guilty to embezzling nearly $130,000

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A former assistant branch manager at First National Bank has pleaded guilty to embezzling nearly $130,000.

Diana Phillips, 39, of Spring Hill, admitted to the theft Monday in U.S. District Court and will be sentenced in November.

Federal prosecutors said Ms. Phillips, as assistant manager and head teller, created 600 fake ledger entries to cover up transfers into her mother's holiday account. She then moved the money into her own account and that of her husband, according to the FBI.

Agents were initially contacted after the bank discovered suspicious activity. The bank initially believed that Ms. Phillips stole about $85,000, but the FBI determined that the true amount was $129,318.

First Published July 29, 2014 12:00 AM

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