Rockland Woman Sentenced to 33 Months for Bank Fraud

PORTLAND, ME—United States Attorney Thomas E. Delahanty, II announced that Shauna L. Quinn, 45, of Rockland, Maine, was sentenced today in United States District Court by Judge George Singal to 33 months in prison and ordered to pay $538,795 in restitution for bank fraud. Quinn pled guilty to the charge on August 20, 2013.

The defendant was employed by Rockland Saving Bank between 2000 and June 2011. In May 2007, Quinn became the bank’s collections manager. Between July 2008 and June 2011, Quinn misappropriated $538,795 of bank funds through improper advances on loans and lines of credit that were not authorized by the bank and agreed to by the borrower, all of whom were family members. Of that amount, over $295,000 was transferred to banks she controlled and spent by her. Quinn’s fraud was concealed by her scheme to use ever-increasing loan advances to make payments on other fraudulent loans in order to keep them current.

This case was investigated by the Federal Bureau of Investigation.