Kenneth Marlyn Ashbaugh, 67, admitted in federal court that he embezzled approximately $80,000 from the Star Bank in Bertha, Minnesota. Ashbaugh was the former vice president and branch manager of the bank. He was charged with the theft on January 27 and pleaded guilty to one count of bank theft on March 5. According to his plea agreement, he admitted embezzling the money from September 2010 to June 2011, along with fraudulently obtaining loans from the bank. Ashbaugh intentionally obtained loans by either misrepresenting the identity of the person applying for a loan or the individual’s competence to repay the loan. He is facing a maximum sentence of 10 years in prison.
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