CAPE GIRARDEAU, MO (KFVS) - An Ellington bank manager has pleaded guilty Tuesday to bank fraud and embezzlement charges.
According to the U.S. Attorney's Office, Irvin R. Eddington, Jr., 42, of Ellington, pleaded guilty to bank fraud and embezzlement charges, involving issuing fraudulent letters of credit while he was Vice
President and Manager of the Ellington Branch of People's Community State Bank (PCSB).
Attorneys say Eddington created fraudulent PCSB money orders funded by advances from customer lines of credit to get money to pay his bills.
Also, from January 2004 through October 2011, prosecutors say Eddington created and issued a number of fraudulent unsecured irrevocable letters of credit to an associate in the name of the bank worth approximately $1,340,896.
Sentencing has been set for May 20, 2013.