April 27, 2010 - COLUMBIA, SC—Acting United States Attorney Kevin F. McDonald stated today that Kimberly O. McAbee, age 44, of Woodruff, South Carolina, pled guilty today in federal court in Anderson, to the embezzlement of bank funds, a violation of Title 18, United States Code, Section 656. Senior United States District Judge G. Ross Anderson, Jr., accepted the plea and will impose sentence after he has reviewed the presentence report which will be prepared by the U.S. Probation Office.
Evidence presented at the change of plea hearing established that from 1988 until December 2009, McAbee worked at Arthur State Bank in Woodruff, South Carolina. Starting in about November 2006 and continuing into December 2009, McAbee embezzled approximately $520,000 through the manipulation of home equity lines of credit and mortgage loans held by family members and friends at Arthur State Bank. In an effort to hide her activities, McAbee accessed the bank’s expense and Freddie Mac accounts to move funds around to conceal the theft.
McAbee’s activities were discovered last December by her supervisor and reported to law enforcement. The FBI investigated the matter and interviewed McAbee. McAbee admitted to using her position with the bank to embezzle funds. She expressed regret for her actions and claimed that she intended to pay back all the money.
Mr. McDonald stated the maximum penalty McAbee can receive is a fine of $1,000,000.00 and imprisonment for 30 years.
The case was investigated by agents of the Woodruff Police Department and Federal Bureau of Investigation. Assistant United States Attorney William J. Watkins, Jr., of the Greenville office handled the case.
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