Margaret Marie Sheese, 54, has been sentenced to 14 months in prison for embezzling nearly $70,000 from a Mason City bank. She must also serve five years of supervised release and pay nearly $72,000 in restitution to the victim bank and its fraud insurer. The sentence was passed down in Cedar Rapids by United States District Court Chief Judge Linda R. Reade.
In her plea agreement, Sheese admitting to stealing $69,200 from Northwoods State Bank, in Mason City, between October 2011 and January 2013. While working as a teller, Sheese made 29 secret withdrawals from accounts belonging to a particular customer of the bank. To cover up her fraud, she altered the bank’s records to falsely show that the bank customer’s mailing address had changed to a Post Office Box that she controlled. Sheese ensured that the customer’s account statements were delivered to her instead of the customer’s residence.
Sheese also admitted on January 15, 2013, to stealing $2,000 in cash from the bank.
Margaret Sheese was released on the bond previously set and is to surrender to the United States Marshals Services on December 16, 2013.
This case was investigated by the Mason City Police Department and the Federal Bureau of Investigation. Assistant United States Attorney Peter Deegan prosecuted the case on behalf of the United States.