Hinkebein Pleads Guilty

Embezzlement by a high-ranking bank official has led to the downfall of Thomas Hinkebein, 59, former president of Whitaker Bank in Lexington, Kentucky. Hinkebein pleaded guilty to one count of embezzlement by a bank officer before United States District Chief Judge Danny C. Reeves.

Between January 12, 2016, and August 13, 2018, Hinkebein willfully misapplied assets of the bank, stealing golf carts and other property from Andover Country Club, an asset owned by Whitaker Bank. He also sought reimbursement from the bank for personal expenses, including cell phone plans, gym memberships, fuel purchases, vehicle repairs, technology purchases for his family members, shipping expenses, and landscaping at his home.

To conceal the personal nature of these expenses, Hinkebein falsely reported them to Whitaker Bank as legitimate work expenses. His actions constitute a serious breach of trust and a violation of federal law. Hinkebein was charged by way of information, waiving his right to indictment by a federal grand jury.

The investigation into Hinkebein’s activities was conducted by the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. The United States was represented by Assistant U.S. Attorney Kate K. Smith. Robert M. Duncan, Jr., United States Attorney for the Eastern District of Kentucky; John Crawford, Special Agent in Charge, Federal Deposit Insurance Corporation, Office of Investigations, Chicago Region; and Stephen Donnelly, Acting Special Agent in Charge, Eastern Region, Office of Inspector General for the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection, jointly announced the guilty plea.

Hinkebein is scheduled to be sentenced on December 4, 2020. He faces up to 30 years in prison and a maximum fine of $1 million. However, any sentence will be imposed by the Court, after its consideration of the U.S. Sentencing Guidelines and the applicable federal statutes.

The guilty plea marks a significant development in the case, highlighting the seriousness of embezzlement and the consequences of such actions. As the case moves forward, it will be important to consider the impact of Hinkebein’s actions on the bank, its customers, and the community at large. The sentence imposed by the Court will reflect the severity of the offense and the need to deter similar conduct in the future.