A former Hammond bank employee has pleaded no contest to a charge of felony theft in connection with the diversion of funds that should have gone to people who had made early cancellations of insurance policies.
Amite, La. District Attorney Scott M. Perrilloux tells The Advocate 53-year-old Clarence E. Zahn Jr. diverted about $180,000 for personal use.
Assistant District Attorney Don Wall says Zahn, who also raised cattle, used the diverted money to buy feed, fencing, bull semen and other items related to his farm.
On Wednesday, District Judge Robert Morrison ordered Zahn to make restitution and fined him $2,500.
Morrison also gave Zahn a five-year suspended sentence, placed him on probation for five years and ordered him to sign an agreement that he will never work for another financial institution.
Information from: The Advocate, www.2theadvocate.com.
Was this article valuable?
Here are more articles you may enjoy.
Florida Appeals Court Reverses $200M Jury Verdict in Maya Kowalski Case 
Truck Driver in Fatal Crash Repeatedly Failed Driving Tests, Florida AG’s Office Says 
Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
