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BoG employee admits embezzling $11,000
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Posted on Oct 27 2000
A former Bank of Guam employee yesterday pled no contest to a bank fraud charge filed by the federal government in the U.S. District Court, waiving an indictment by a grand jury.
Genevieve S. DeLeon Guerrero, 24, of Saipan, admitted guilt for misapplying and embezzling $11,045.85 which she took from BoG between May to December last year, according to court documents.
District Judge Alex R. Munson set sentencing date on Feb. 6, 2001. Ms. Guerrero is free on bail of $25,000 unsecured bond.
But the judge imposed conditions for her temporary freedom, such as securing employment except for jobs in any financial institution or those that will require her to handle money.
Ms. Guerrero also agreed to cooperate with authorities in investigation of other crimes as well as to submit to lie-detector test.
In exchange for her plea, federal prosecutors will recommend lighter penalty of minimum incarceration during her sentencing, and possible downward departure from the guidelines if she provides substantial assistance, the agreement said.
If convicted by a jury, the bank fraud charge carries a maximum penalty of 30 years imprisonment, fine of not more than $1 million, five years supervised release, plus restitution to de determined by the court. (BS)
