TCB embezzlement | Arkansas Blog

Tuesday, July 8, 2008

TCB embezzlement

Posted By on Tue, Jul 8, 2008 at 5:01 PM

I got a tip from a reader this afternoon that Twin City Bank would be meeting tomorrow with employees to pass word of a $2 million-plus embezzlement and that officials hoped  to get word out before the media did. Covered up with other business, I checked in with Lance Turner at Arkansas Business, who said AB was hot on the case.

Here's the result of their work:

It's a $2.1 million loss, apparently. TCB isn't naming names, but AB says they have sources who confirm that an SEC filing about the loss, mostly covered by insurance, relates to activities of a senior vice president, Brent Geels. AB says he's been terminated.

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