Categorized | Business

Woman guilty of embezzlement from isle bank branch

Woman guilty of embezzlement from isle bank branch


Lani Ann Miho, 52, has pleaded guilty before U.S. District Judge J. Michael Seabright to the charge of bank embezzlement. She faces a maximum penalty of up to 30 years in prison and a fine of up to $1,000,000 when she is sentenced by Seabright on June 4, 2012.

Florence T. Nakakuni, U.S. Attorney for the District of Hawaii, said that according to information produced in court documents, Miho, an employee for 29 years with First Hawaiian Bank, acted as a branch manager and a personal banking officer July 2000-September 2010 on Oahu and Hawaii, where she created approximately 56 accounts in various names, withdrawing money and using the proceeds from recently opened accounts to pay balances due on earlier accounts.

Miho used her position within the bank to keep track of the accounts and pay them before they became delinquent. She converted the embezzled money to her own use.

According to the court documents, Miho obtained money from the fraudulent accounts, which including fees and interest, totaled approximately $2,683,494.13.

During the course of her embezzlement, Miho repaid approximately $2,074,044.69, leaving a net loss to First Hawaiian Bank of approximately $609,449.60.

The criminal case was investigated by the Federal Bureau of Investigation, and the prosecution is being handled by Assistant U.S. Attorney Ron Johnson.



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Aug 1, 2014 / 9:52 am