DENVER – Candice L. White, age 42, of Centennial, Colorado, is scheduled to appear before a U.S. Magistrate Judge this afternoon after a federal grand jury in Denver indicted her on charges of embezzlement and willful misapplication of funds by a bank officer or employee, reported the U.S. Attorney’s Office, the Federal Bureau of Investigation (FBI) and the Special Inspector General of Troubled Asset Relief Program (SIGTARP).
According to the indictment, White was a Senior Vice President of Front Range Bank. From July 2009 through March 2011 she allegedly embezzled more than $92,000 from the bank for her own personal use and for the use of others. In addition, White is charged with willfully misapplying additional funds from other client accounts to an escrow account from which White embezzled the majority of the $92,000 in order to conceal and facilitate her ongoing criminal activity.
Because Front Range Bank received TARP funds, the Special Inspector General (SIGTARP) assisted the FBI in the investigation.
White faces 37 felony counts of embezzlement and willful misapplication of funds from a federally insured bank. If convicted on those counts, she faces not more than 30 years in federal prison, and up to a $250,000 per count. She also faces two misdemeanor counts of embezzlement and willful misapplication of funds from a federally insured bank. If convicted on those counts, she faces not more than 1 year in federal prison, and up to a $100,000 fine.
The defendant is being prosecuted by Assistant U.S. Attorney Pegeen Rhyne.
The charges contained in the indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.
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