Ex Wells Fargo banker pleads guilty to embezzling more than $200 - | WBTV Charlotte

Ex Wells Fargo banker pleads guilty to embezzling more than $200,000

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CHARLOTTE, NC (Mark Price/The Charlotte Observer) -

A former banker admitted in U.S. District Court Wednesday to stealing more than $216,889 from a Charlotte area bank, federal authorities announced Wednesday.

The bank was not named by Jill Westmoreland Rose, U.S. Attorney for the Western District of North Carolina. However, a previous Observer story identified the bank as Wells Fargo.

Mark Isaac Coffino, 38, of Huntersville, pleaded guilty to one count of embezzlement by a bank employee before U.S. Magistrate Judge David Keesler.

According to court documents filed Wednesday, Coffino was employed by a large international bank from 2010 to 2016.

He used his position as a wholesale banking relationship support manager to create and issue approximately 20 cashier checks payable to his personal accounts, federal officials said. He then used the bank operating expenses ledger account numbers to conceal the origin of the funds.

Plea-related documents indicated that Coffino embezzled funds 12 times between May 2015 and December 2016 in amounts ranging from $6,995 to $48,659.

The charge carries a maximum prison term of 30 years and a $1 million fine. As part of his plea agreement, Coffino has agreed to pay restitution, the amount of which will be determined by the court at sentencing.

A sentencing date has not been set yet. Coffino was released on bond following his guilty plea, officials said.

The investigation was led by the FBI. Assistant United States Attorney Jenny Sugar, of the U.S. Attorney’s Office in Charlotte, is prosecuting the case.

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