GRAND RAPIDS, Mich. — The senior vice president of United Bank has pleaded guilty to embezzling more than $870,000 from 2014 to 2021.
The U.S. Attorney’s Office – Western District of Michigan says 56-year-old John Figg pulled money from customers’ accounts, obtained false loans and redirected certain fees for personal use.
Furthermore, authorities say Figg withheld the income from the aforementioned activities from his tax filer.
“Hardworking citizens and businesses are entitled to know that when they entrust their money to a bank, it will remain there safe and secure,” says U.S. Attorney Totten. “This prosecution serves as a reminder to bank officials that we will not tolerate any violation of the trust we put in our banks.”
Figg also pleaded guilty to tax evasion, according to the Department of Justice.
The combined charges may result in a maximum of 35 years behind bars.
A sentencing date has yet to be determined.
