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Bank in Hot Water for Allegedly Taking Part in Embezzling Scheme

 
Bank in Hot Water for Allegedly Taking Part in Embezzling Scheme
Posted Friday, July 18th 2014 @ 9am  by KFBK News

A California bank is in hot water for allegedly taking part in an embezzlement scheme.

The First California Bank handled accounts of Kinde Durkee, a former campaign treasurer for several high-profile Democratic politicians.

Authorities say Durkee had been at the center of an elaborate shell game, regularly shifting money between her clients' accounts while pocketing a few million dollars.

Durkee pleaded guilty to five counts of mail fraud last year and was sentenced to more than eight years in federal prison.

Officially, the bank acknowledges no wrongdoing, while agreeing to the settlement.

According to reports, that settlement is $4 million with $2 million going to the campaign account of U.S. Senator Dianne Feinstein.

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