Bank President Imprisoned for Embezzelement

OXFORD—Miss. B Felicia C. Adams, United States Attorney for the Northern District of Mississippi; Jon T. Rymer, Federal Deposit Insurance Corporation Inspector General; and Daniel McMullen, Special Agent in Charge of the Federal Bureau of Investigation (FBI) in Mississippi, announce:

Henry E. McCaslin, Jr., 67, of Cleveland, has been sentenced by United States District Judge Sharion Aycock in Aberdeen, Mississippi, following his guilty plea in March to a one-count information charging him with embezzlement while acting as president and CEO of First National Bank, Rosedale, Mississippi.

Judge Aycock ordered McCaslin to serve 63 months in federal prison, followed by a term of supervised release of five years. He was also ordered to pay restitution in the amount of $1,530,000.

U.S. Attorney Felicia C. Adams said, “The crimes committed by McCaslin tell a disturbing tale of avarice and greed. He abused his position of trust for his own financial gain. The sentence McCaslin received reinforces the message that federal courts view embezzlement as a serious crime that warrants significant punishment. The United States Attorney’s Office is committed to holding those who abuse their authority accountable for their illegal activities.

FBI Special Agent in Charge Daniel McMullen stated, “McCaslin abused his position and exploited his years of service to the First National Bank of Rosedale to steal from those whose deposits were entrusted to his care. The FBI remains committed to working with its partners to investigate financial crimes which place our financial institutions at risk.”

FDIC Inspector General Jon T. Rymer said, “The Federal Deposit Insurance Corporation (FDIC)-Office of Inspector General is pleased to join our law enforcement colleagues in bringing Mr. McCaslin to justice. We are especially concerned when trusted insiders abuse their positions to cause harm to the financial institution and losses to the FDIC’s Deposit Insurance Fund. We will continue our efforts to detect and prevent such abuses in FDIC-insured financial institutions throughout the country.”

This case was investigated by the Federal Deposit Insurance Corporation-Office of Inspector General, the Federal Bureau of Investigation, and the United States Treasury Department-Office of the Inspector General and was prosecuted by Assistant United States Attorney Clay Dabbs.