MINNEAPOLIS (WCCO) — The former vice president and branch manager of Star Bank in Bertha, Minn. admitted in federal court Monday to stealing $80,000 from the bank.
Kenneth Marlyn Ashbaugh, 67, pleaded guilty to one count of bank theft in St. Paul.
Ashbaugh was charged Jan. 27.
According to his plea agreement, he admitted stealing the money from the bank from Sept. 1, 2010 to June 1, 2011. He also admitted to fraudulently obtaining loans from the bank.
Ashbaugh faces a possible maximum penalty of 10 years in prison.