Vista
A former loan officer for Southwest Bank in Vista faces up to five years in prison plus a $250,000 fine after he pleaded guilty Monday to one count of embezzling $126,924 in bank funds during a nine-month period last year.
U.S. District Judge J. Lawrence Irving will sentence Terence B. Peek, 37, of Escondido, on April 24 for his part in stealing the money. Approximately $60,000 of the money was recovered from an Orange County Savings and loan where Peek had deposited the money.
In entering the plea, Peek admitted to taking the money from January, 1988, to the following September and spending it on himself.
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