A Mason City woman will spend 14 months in federal prison after admitting to embezzling nearly $70,000 from a Mason City bank. Fifty-four-year-old Margaret Sheese pled guilty in August to one count of embezzlement by a bank employee.
She admitted that between about October 2011 and January 2013 she made twenty-nine secret withdrawals from accounts belonging to a customer at Northwood State Bank and then altered the bank’s records to falsely show that the bank customer’s mailing address had changed to a post office box she controlled.
Along with her prison time, Sheese was ordered to repay $71,680 and will have to serve five years of parole after her release.