May 12, 2008
Bank officer admits theft
An executive from Finksburg pleaded guilty yesterday to the theft of more than $38,000 from his employer, a bank that buys and sells loans from small community banks.
According to a statement of facts, Michael Walsch, 52, committed the thefts between February and May 2007 while working as the chief financial officer at the bank. Walsch pleaded guilty to a charge of theft by a bank officer, according to the U.S. attorney's office.
Federal prosecutors say Walsch had checks issued to purported vendors and deposited them into his personal account. He was also accused of making wire transfers of bank funds to personal accounts and charging a personal bill of more than $800 to his bank credit card.
He is scheduled to be sentenced July 18.
Copyright © 2008, The Baltimore Sun
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