Posted: Aug 31, 2011 6:38 AM by Lauren Wilson & AP
LAFAYETTE, La. (AP) - A former president of Farmer's State Bank has pleaded guilty to embezzling more than $100,000 in bank funds from July 1998 through January 2004.
The Advocate reports Steve J. Broussard entered a guilty plea in federal court Monday to one count of misapplication by a bank employee and officer, which carries a possible prison sentence of up to 30 years.
Broussard had resigned from the Church Point bank about four years before he was indicted by a federal grand jury in July 2008 on 14 counts of misapplication by a bank employee and officer in excess of $1,000 and eight counts for less than $1,000.
Broussard will be sentenced at a later date.