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Bank Employee Pleads Guilty to $180,000 Embezzlement
A shocking case of corporate greed has come to light in Kansas as Sherrie Landell, a 42-year-old former employee of Exchange State Bank in Neosho County, pleaded guilty to embezzling more than $180,000 from the bank.
According to court documents, Landell, who worked in the bank’s branch in St. Paul, Kansas, was responsible for maintaining the bank’s general ledger account and an account designated for accounts receivable on certificates of deposit.
Between September 2007 and May 2013, Landell allegedly embezzled interest due on certificates of deposit, fraudulently altering the bank’s records to conceal the crime. The shortage was discovered during a bank regulatory exam and subsequent audit by an independent accounting firm in 2013.
Landell’s guilty plea comes as a relief to the bank and its customers, who were unknowingly affected by her deceitful actions. The maximum penalty for her crime is 30 years in federal prison and a fine up to $1 million.
Sherrie Landell is set to be sentenced on July 14. U.S. Attorney Barry Grissom commended the U.S. Secret Service, the Federal Deposit Insurance Corporation, and Assistant U.S. Attorney Aaron Smith for their work on the case.
This case serves as a reminder of the importance of accountability and transparency in financial institutions. The people of Kansas can rest assured that those who commit such crimes will be held accountable.
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Key Facts
- State: Kansas
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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