Ex-bank officer pleads guilty to embezzlement scheme

LEXINGTON, Ky. (AP) — A former bank officer in central Kentucky has pleaded guilty to embezzling nearly $1 million.

The Lexington Herald-Leader (http://bit.ly/1Clo710 ) reports that Joey Mills, a former officer at United Bank in Versailles, admitted taking the money between February 2012 and January 2014. According to federal court documents, Mills admitted he issued about 30 fictitious loans totaling $983,767.

Mills issued the loans in the names of relatives. Court documents showed many of the loans listed ownership interests in a company as collateral, but those interests didn’t exist. Mills acknowledged he used the proceeds for himself.

His plea agreement said he has repaid some money.

His sentencing was set for May 7. The maximum sentence would be 30 years in prison and a $1 million fine, but it’s unlikely he’ll receive the maximum.

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Information from: Lexington Herald-Leader, http://www.kentucky.com

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