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Polo woman arrested for embezzling money from a bank

A federal grand jury has indicted a Polo woman who allegedly embezzled money from the First State Bank who has 2 area branches.

46-year old Kayla Bergstrom was the First Vice-President at the financial institution who has locations in Polo and Shannon. She had access to all banking accounts.

The U.S. Department of Justice says that between February 23rd of 2010 and February 3rd of 2014, Bergstrom allegedly embezzled money by creating cash advance tickets for the banks correspondent account at the U.S. bank. She then allegedly credited the amounts of money to her personal account and the business account for her husband's automobile repair business.

Federal authorities say that Bergstrom concealed the activity by changing statements and balances in the bank's system. She has since repaid the funds to First State Bank.

If conviced, Bergstrom faces a maximum sentence of 30 years in prison and a fine that could reach 1 million dollars.

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