Bank Embezzlement Plea 07 Aug 12

A former bank employee in southwestern Minnesota pleaded guilty on Monday to stealing hundreds of thousands of dollars from the customers of Minnwest Bank in Marshall. 47-year-old Barbara Kaye Rechtzigel admitted that from 1998 through June of this year she embezzled the money for personal use, primarily to pay off shopping debts. At the time of her termination, Rechtzigel was the senior operations manager at the bank’s Marshall location. To carry out her scheme, she created false paperwork to make bank customers believe their CDs were renewed and earning interest, when, in fact, she was stealing and spending their money. The bank paid their customers back more than a million dollars, even though Rechtzigel had depleted the accounts. She now faces up to 30 years in prison.