A former loan officer at the Bank of Crocker has been sentenced to 40-month jail term for embezzlement.

Troy Poston issued fraudulent letters of credit (L/Cs) in a spate of thefts from the small bank in the US state of Missouri.

Guilty verdict

Poston, who is a resident in the city of Crocker, was found guilty of stealing more than US$450,000 from his former employer.

He pleaded guilty to bank fraud and will not be eligible for parole.

Various ploys

Between 2004 and 2008, Poston fraudulently obtained loans, credit lines and transferred unauthorised funds from customers' banks accounts to his own account.

He also issued fraudulent L/Cs, which the Bank of Crocker had to guarantee.

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