Wayzata Man Sentenced for Embezzling $639,820 from His Former Employer
| U.S. Attorney’s Office September 01, 2010 |
A 40-year-old Plymouth man was sentenced today in federal court in Minneapolis for embezzling $639,820 from his former employer, KleinBank, a community bank headquartered in Norwood-Young America. United States District Court Judge Joan N. Ericksen sentenced Gregory Gerard Meyer to 31 months in prison on one count of theft of bank funds. Meyer was charged on November 3, 2009, and pled guilty on November 23, 2009.
In his plea agreement, Meyer admitted that while employed as an investment banker at KleinBank, he stole money from the accounts of four bank customers. After Meyer made the unauthorized withdrawals, which totaled $639,820, he routed the funds to his own accounts. Then, he used the money to pay personal expenses.
This case was the result of an investigation by the Federal Bureau of Investigation and the Carver County Sheriff’s Office. It was prosecuted by Assistant U.S. Attorney David J. MacLaughlin.