Former Rigby banker pleads guilty to embezzlement

A former Rigby banker pleaded guilty Wednesday to a single-count indictment charging him with fraud from a financial institution.

During an appearance in federal district court in Pocatello, Carlos E. Juarez, 26, of Strasburg, Penn., formerly of Rexburg, admitted he fully embezzled and misapplied $11,100 from Wells Fargo Bank in Rigby by arranging unauthorized loans from customers’ accounts.

U.S. Attorney for Idaho Wendy J. Olson said a U.S. Secret Service investigation determined the embezzlement occurred between August and November 2011. He was indicted by a federal grand jury in February. The charge is punishable by up to 30 years in prison, a maximum fine of $1 million and up to three years of supervised release.

Sentencing was set for November 9, 2012 before Chief U.S. District Judge B. Lynn Winmill at the federal courthouse in Pocatello.