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Upstate woman pleads guilty to embezzling $500K

Apr 27, 2010 2:29:00 PM - thestate.com
An Update woman faces up to a $1 million fine and 30 years in prison after admitting today in federal court she stole half a million dollars from her employer, a Woodruff bank.

Kimberly O. McAbee, 44, of Woodruff, conceded in court in Anderson today that from November 2006 to last December she worked at Arthur State Bank and manipulated accounts to skim about $520,000 for personal use.

Assistant U.S. attorney William J. Watkins Jr. said in court that McAbee, who started working at the bank in 1988, used a bank expense account and Freddie Mac accounts to move money around to hide changes she had made to home equity lines of credit and mortgage loans held by family and friends at the bank.

A supervisor discovered the embezzlement in December and reported it to law enforcement officials.

At her hearing, McAbee said she regretted the crime and said she had intended to pay the money back.

USA, South Carolina: (Latest Stories)