This week, Acting United States Attorney Jeffrey M. Anderson announced that a 20-year-old Madison, Wisconsin man had been sentenced to prison for bank embezzlement. Zachary Schmelzer was sentenced to one month of imprisonment and four months of home detention. The defendant has also been ordered to pay a $5,000 fine.
Schmelzer pleaded guilty to two counts of embezzlement by a bank employee in June of this year. At the time of the crime, Schmelzer worked as a teller for the Associated Bank branch in Madison. He was a teller with the bank from November 2014 until December 4, 2015. Before Schmelzer’s employment was terminated, it was discovered that the bank was missing $10,000.
Schmelzer was confronted and he confessed to taking the cash. It was ultimately determined that the defendant had been taken money from the bank throughout his entire tenure. He had taken money from depositors and other tellers’ drawers. The defendant then utilized the money on extravagant expenses, such as international travel, Audi lease payments and jewelry.
As a part of the conviction, Schmelzer will be prohibited from seeking or maintaining employment that involves unsupervised financial or fiduciary duties. He will also be required to notify potential employers of his conviction. Again, 20-year-old Zachary Schmelzer has been sentenced to a month of imprisonment.