Former Bank Official Charged with Bank Larceny
| U.S. Attorney’s Office June 03, 2009 |
NEW ORLEANS, LA—LORETTA BALSAMICO, age 51, a resident of Covington, Louisiana, was charged in a one-count bill of information for bank larceny, announced U. S. Attorney Jim Letten.
According to court documents, from on or about July 2006, and continuing until on or about September 26, 2007, BALSAMICO, an assistant vice-president at Citizens Savings Bank in Covington, Louisiana, did knowingly take and carry away, with intent to steal and purloin, from Citizens Savings Bank, a bank whose deposits were then insured by the Federal Deposit Insurance Corporation, more than $100,000 in funds belonging to Citizens Savings Bank.
If convicted, BALSAMICO faces a maximum term of imprisonment of ten (10) years, a fine of $250,000.00 and three (3) years of supervised release following any term of imprisonment. Letten reiterated that the bill of information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.
The case was investigated by the Special Agents of the Federal Bureau of Investigation. The prosecution is being handled by Assistant United States Attorney Jon Maestri.