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Columbia man ordered to pay $1 million for embezzlement

Monday, November 1, 2010 | 12:38 p.m. CDT

JEFFERSON CITY — A former bank officer in central Missouri has been ordered to pay more than $1 million in restitution for embezzlement.

The U.S. attorney's office says 48-year-old Timothy Earl Ferguson of Columbia will also serve three years and five months in prison without parole. He was sentenced this week by U.S. District Judge Nanette Laughrey.

Ferguson pleaded guilty in February to embezzling funds from U.S. Bank in Columbia, where he worked. He admitted to issuing a series of fraudulent loans in 2002 and 2003 totaling $660,000.

He also admitted to embezzling about $217,000 from the proceeds of those loans and depositing the money in personal investment accounts.

Prosecutors say the $1 million restitution covers the conduct to which Ferguson pleaded guilty plus additional relevant conduct.


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