Local News in Brief : Sisters Accused of Embezzling Arrested

Two San Fernando Valley sisters who fled to the Philippines in late 1986 after allegedly embezzling $898,000 from First Interstate Bank have been arrested after being returned to the United States, authorities said.

Marissa Puno, 31, of Lake View Terrace and Edna Pantig, 33, of Van Nuys, both Philippine-born naturalized U.S. citizens, were deported from their homeland and were arrested Wednesday by FBI agents after they arrived at Los Angeles International Airport, Assistant U.S. Atty. Maurice A. Leiter said. The sisters were ordered held without bail.

Puno allegedly began the embezzlement at First Interstate Bank’s downtown headquarters in 1985 when she became acting supervisor of an account used for the transfer of money to or from other banks to cover sales of securities. She allegedly requested an unauthorized wire transfer of $1,014,000 from the Bank of New York, then made 28 transfers totaling $898,000 to her sister.