Ex-bank employee accused of embezzlement to be sentenced

From Star Journal, “Kovac has been charged with a felony count of theft in a business setting of more than $10,000. Upon conviction, that charge carries a maximum possible penalty of five years of initial confinement in prison, followed by five years of extended supervision, and/or a $25,000 fine.

According to a report from the Minocqua Police Department, 15 different transactions were discovered in which Kovac allegedly used her position as a loan processor at the bank to write money orders and a corporate check for personal gain with the total amount of those transactions coming to $12,174.91.

The police report further states those funds went to an account at the Ripco Credit Union in which Kovac was the account holder. After Park City Credit Union’s president contacted Ripco Credit Union’s president regarding those transactions, the account had $3,200 remaining in it and Ripco froze the account related to the allegedly embezzled money.

Kovac is also accused of having made nine automatic withdrawal transactions from various Park City Credit Union customers to pay for some of her bills. Those transactions were either returned to the customers as unauthorized transactions or refunded by Kovac, according to the police report.

Kovac allegedly stated to the bank’s chief financial officer that she stole from there because she was having a “rough patch” and had not been embezzling money from the bank for very long. The police report states Kovac was escorted from the Park City Credit Union building after being interviewed by the chief operating officer and a subsequent search of her desk found receipts for the allegedly fraudulent transactions.”

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