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Defendant Charged with Embezzling $35,520 from Minnesota Bank
MINNEAPOLIS
Cheryl Lynn Holzer, a 64-year-old woman from the southeastern Minnesota community of Wykoff, has been charged with embezzling approximately $35,520 from the Security State Bank where she was employed as the head teller.
The charges were filed last week in federal court, with Holzer facing one count of bank embezzlement. The alleged crimes reportedly took place between December 2010 and February 2012, during which time Holzer allegedly took bundles of cash from the bank’s vault for her personal use.
According to the FBI investigation, Holzer worked at the bank located in Wykoff, Minnesota. If convicted, she faces a potential maximum penalty of 30 years in prison. Any sentence will be determined by a federal district court judge.
This case is the result of an investigation by the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney Thomas Calhoun-Lopez.
A defendant is presumed innocent until they plead guilty or are proven guilty at trial.
The Security State Bank, where Holzer was employed, has not commented on the situation. The bank’s customers and employees are said to be shocked by the allegations.
The FBI will continue to investigate and prosecute those involved in financial crimes.
The public is reminded that a defendant’s guilt or innocence will be determined in a court of law.
Key Facts
- State: Minnesota
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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