East Liverpool woman sentenced to prison for $860,000 bank fraud - WFMJ.com News weather sports for Youngstown-Warren Ohio

East Liverpool woman sentenced to prison for $860,000 bank fraud

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AKRON, Ohio -

A retired employee of Home Savings and Loan has been sentenced after being convicted of stealing $860,000 from bank customers.

Mary Jo Schmidbauer, 67, of East Liverpool, appeared in U.S. District Court on Wednesday where she was sentenced to 41 months in prison and ordered to make full restitution.

She pleaded guilty in April to one count of bank fraud.

Prosecutors say that in 2007, when Schmidbauer was employed by Home Savings and Loan in East Liverpool, she obtained permission from a person identified only as “J.M.” to manage money that J.M. deposited into accounts maintained by the bank.

After retiring from her position, Schmidbauer obtained a power of attorney from J.M. to continue managing the accounts maintained by Home Savings and Loan, according to the indictment.

Schmidbauer also withdrew cash from J.M.'s accounts for Schmidbauer's own personal use and transferred money from J.M.'s accounts into Schmidbauer's accounts. Schmidbauer then withdrew that money for her own personal use, according to the indictment.

The indictment says that Schmidbauer obtained a total of approximately $860,000 from J.M.'s accounts between 2007 and 2013.

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