The former chief financial officer of a South Carolina bank has pleaded guilty in federal court to embezzling more than $300,000 from the institution.
40-year-old Torlando Ramont Childress of Hopkins pleaded guilty Tuesday to embezzlement. Childress was the Chief Financial Officer of South Carolina Community Bank and had the ability to make transfers into and out of all of the bank’s acounts. Prosecutors say Childress used two accounts to embezzle $377,000 between September 2006 and March 2010.
His sentencing is set for October. He could face up to 30 years in prison and $1 million in fines.