Bank fraud case could be settled
February 18, 2010
The U.S. District Court case of Patricia Cabano, a former Craig woman charged with 31 counts of felony bank fraud, has been delayed until March.
Cabano and her lawyer filed a notice of disposition Feb. 3 that stated "the parties have reached a settlement."
In that notice of disposition, the defense requested a change of plea hearing, which was set for Feb. 17, but later rescheduled to March 17.
Cabano pleaded not guilty to charges May 28, 2009.
She will be given the opportunity to change her plea at the March hearing.
Federal prosecutors allege that Cabano defrauded the Bank of Colorado's Craig branch of about $567,000 while she worked there from 1998 to 2002.
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According to court documents, "the government produced additional discovery materials which require review by counsel and his forensic accountant."
Details of those materials were not available Wednesday.
Each count Cabano faces carries a possible sentence of as many as 30 years in prison and as much as a $1 million fine.
The details of any settlement reached will not be released until the change of plea hearing next month.
An indictment filed May 6, 2009, states that Cabano took money from 18 victims through fraudulent bank account transfers that ranged from $1,000 to $94,000 each.
According to the indictment, federal authorities said Cabano used her "largely unsupervised access to customers' accounts" to make electronic transfers into accounts she owned, as well as the accounts of family members and "those of the customers she favored."
Brian Smith can be reached at 875-1794 or email@example.com.