COLUMBIA, S.C. (AP) -- Federal prosecutors say the former chief financial officer of a South Carolina bank has pleaded guilty to embezzling more than $300,000 from the institution.
U.S. Attorney Bill Nettles says 40-year-old Torlando Ramont Childress of Hopkins pleaded guilty Tuesday to embezzlement by a bank employee.
Nettles says Childress was the chief financial officer of South Carolina Community Bank and had the ability to make transfers into and out of all of the bank's accounts. The prosecutor says Childress used two accounts to embezzle $377,000 between September 2006 and March 2010.
Childress' sentencing is set for October. He faces up to 30 years in prison and $1,000,000 in fines.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
TV Station Profiles & Public Inspection Files forWACH