Mug Shot Monday — Ex-Bank Director Sentenced to 12 Years
June 8, 2015
By Bob Coleman
Editor, Mug Shot Monday
Michael Bernick is a contractor and former director of Metropolitan Savings Bank in Lawrenceville, PA.
After the community bank failed, costing the FDIC $9.4 million, prosecutors began looking for the usual suspects.
They discovered Vice President and Managing Officer Donna Shebetich was a little sloppy in her paperwork. She made $500,000 in loans to her boyfriend without any credit reports, collateral and promissory notes. Michael needed the money to stave off foreclosure on some of his real estate holdings.
She pled guilty for filing false entries in bank records and received six years in prison.
Last September, Michael was convicted on nine counts of theft and embezzlement.
Friday, he was sentenced to 12 years in prison and ordered to pay restitution for the full loss by the FDIC of $9.4 million, and $500,000 lost by account holders.