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AKRON -An East Liverpool woman who was a retired employee of Home Savings and Loan was sentenced to 41 months in prison Wednesday after being convicted of stealing $860,000 from bank customers, according to WFMJ-TV.
Mary Jo Schmidbauer, 67, of East Liverpool, appeared in U.S. District Court on Wednesday was also ordered to make full restitution.
She pleaded guilty in April to one count of bank fraud.
According to the TV station, prosecutors say that in 2007, when Schmidbauer was employed by Home Savings and Loan in East Liverpool, she obtained permission from a person identified only as “J.M.” to manage money that J.M. deposited into accounts maintained by the bank.
After retiring from her position, Schmidbauer obtained a power of attorney from J.M. to continue managing the accounts maintained by Home Savings and Loan, according to the indictment.
Schmidbauer also withdrew cash from J.M.’s accounts for her own personal use and transferred money from J.M.’s accounts into her accounts. Schmidbauer then withdrew that money for her own personal use, according to the indictment.
The indictment says that Schmidbauer obtained a total of approximately $860,000 from J.M.’s accounts between 2007 and 2013.