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Pennsylvania Woman Sentenced for Swindling Bank

U.S. Attorney’s Office July 14, 2010
  • Eastern District of Pennsylvania (215) 861-8200

PHILADELPHIA—Roberta Stutzman, 63, of Pennsylvania, was sentenced today to 75 months in prison for defrauding National Penn Bank, in Boyertown, PA, of approximately $4.4 million, announced United States Attorney Zane David Memeger. Stutzman pleaded guilty to bank fraud, bank embezzlement, and tax fraud, on March 19, 2010, admitting that while employed at National Penn Bank, she misappropriated $4,414,538, of the Bank’s money. Stutzman spent much of the embezzled funds on expensive vehicles, a vacation home, real estate, costly jewelry, paid vacations, and gifts, as well as transferred hundreds of thousands of dollars to third parties. Stutzman also filed a false tax return in calendar year 2007 by not reporting approximately $719,571 in additional income from the embezzled funds.

In addition to the prison term, U.S. District Court Judge Joel H. Slomsky ordered Stutzman to pay restitution over $4 million. The judge ordered she be immediately remanded to prison.

This case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation Division. It is being prosecuted by Assistant United States Attorney Denise S. Wolf.

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