Former Bank Official Sentenced on Federal Bank Larceny Charges
| U.S. Attorney’s Office October 27, 2009 |
NEW ORLEANS, LA—LORETTA BALSAMICO, age 51, a resident of Covington, Louisiana, was sentenced today in federal court today by U.S. District Court Judge Jay C. Zainey, to six (6) months in federal prison followed by six (6) months of home confinement for bank larceny, announced U.S. Attorney Jim Letten. In addition, BALSAMICO was order to perform fifty (50) hours of community service and serve two (2) years of supervised release during which time she will be under federal supervision and risks additional imprisonment should she violate any terms of the release.
According to court documents, from approximately July 2006 until September 26, 2007, while employed as an assistant vice-president, BALSAMICO stole approximately $135,800 from Citizens Savings Bank, in Covington, Louisiana. In an effort to make it appear that the money was accounted for, BALSAMICO falsified daily balance sheets. She would also schedule internal bank audits at the same time the bank was to be receiving large amounts of cash, to give the appearance that there was extra cash and that none was missing.
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.