A former executive with a Harveyville bank has been sentenced to home confinement and restitution after embezzling from the financial institution.
Debra Kay Converse, 60, reached a plea agreement with federal prosecutors on one count of embezzlement, admitting her bank, First National Bank of Harveyville, started an audit shortly after she resigned as bank vice president in late March 2019 following financial losses. Converse said there were glitches in the bank’s computer system, but bank management suspected embezzlement and it was later determined Converse took nearly $108,000.
In addition, the bank learned Converse wrote $5,700 in checks payable to First National Bank for processing resident utility payments while serving as Harveyville City Treasurer — and then cashed the checks instead of crediting the revenue to the bank.
Converse received four months of home confinement along with full restitution. She could have been sentenced to 30 years in prison.
