Former Bank VP Pleads Guilty to Embezzling $550,000

JEFFERSON CITY, Mo. – A former bank vice president pleaded guilty in federal court today to embezzling at least $550,000 from the People’s Bank of Moniteau County.

Angela Flippin, 51, of Jamestown, Mo., waived her right to a grand jury and pleaded guilty before U.S. Magistrate Judge Willie J. Epps, Jr. to a federal information that charges her with one count of embezzlement by a bank employee and one count of filing a false federal tax return.

Flippin was the vice president and chief operating officer at the People’s Bank of Moniteau County, which has locations in Jamestown and California, Mo. She was also the board secretary for many years and held that position when she was terminated.

By pleading guilty today, Flippin admitted that she embezzled at least $550,000 from 2010 to Jan. 30, 2017. The government believes she embezzled $645,638 and will present evidence for that amount at the sentencing hearing.

In January 2017, the Missouri Division of Finance discovered improper transactions involving Flippin. From 2010 through 2017, three areas of improper activity were identified; improper disbursements; improper expense reimbursements; and improper insurance premiums. Through their analysis, auditors determined Flippin received more than $550,000 in improper comp time disbursements and more than $8,000 in improper expense reimbursements.

Flippin personally held three separate bank accounts. Analysis of these bank accounts by federal investigators found Flippin made payroll deposits in the amount of $105,750. In addition to Flippin’s payroll deposits there were other deposits which totaled $892,782. Analysis of expenditures from Flippin’s bank accounts found $338,569 in PayPal online shopping transactions and other general debit card transactions.

Flippin also admitted that she failed to report the amounts that she embezzled from People’s Bank of Moniteau County on her 2014, 2015, and 2016 federal income tax returns. During those three years, she embezzled a total of $372,745, resulting in a total tax loss to the federal government of $96,434.

Under federal statutes, Flippin is subject to a sentence of up to 33 years in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorney Ashley S. Turner. It was investigated by the FBI, IRS-Criminal Investigation, and the Federal Deposit Insurance Corporation.