Kathryn Sue Simmerman Embezzled Almost $2 Million From Shoreline Federal Credit Union
GRAND RAPIDS, MICHIGAN - U.S. Attorney Patrick Miles announced today that Kathryn Sue Simmerman, 54, of Muskegon, Michigan, pled guilty to embezzlement from her former employer, Shoreline Federal Credit Union. She also pled guilty to a separate crime of structuring deposits of the embezzled cash in increments less than $10,000. Simmerman faces up to 30 years in prison for the embezzlement, and up to five years in prison for the structuring. U.S. District Judge Robert Holmes Bell, who conducted the plea hearing, will sentence Simmerman on Nov. 30, 2015.
Between Oct. 1, 2001, and Feb. 3, 2015, Simmerman embezzled $1,945,000 from Shoreline by removing cash from its vault and placing it in her purse. She deposited some of the cash into Shoreline accounts she controlled, and took the remainder of it home to spend on her own use and enjoyment. She hid her activity by manipulating Shoreline’s books and records.
The case was investigated by the Norton Shores Police Department and Special Agents from the FBI and IRS. It is being prosecuted by Assistant U.S. Attorney Clay Stiffler.
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Source: U.S. Department of Justice, Office of the United States Attorneys
