A former western Nebraska banker who embezzled more than $1.3 million from his bank has been sentenced to more than three years in prison.
Matt Monheiser was handed the 42 month sentence in federal court Monday and he’ll also serve five years of supervised release after he is out of prison.
Monheiser, who is 38, was convicted of taking almost $1,365,000 from the former First National Bank in Sidney where he was vice president and branch manager. Monheiser took the money between March 2003 and August 2012. He used funds from customers’ loan accounts to buy cashier’s checks in customers’ names. He also created loans in customers’ names and stole $82,000 cash directly from the bank vault.
After pleading guilty last spring, Monheiser said he was addicted to gambling, and stole to feed his addiction. He was treated for 28 days at a wellness center in Virginia shortly after the thefts were discovered.
According to the U.S. Attorney’s Office, $500,000 restitution has already been paid. Monheiser said in April that a cash-collateral account has been set up to repay the rest, but would not say who funded the account.
By Dave Collins, KSID