Former Whitaker Bank president in KY pleads guilty to embezzlement, could face prison
A former president of Whitaker Bank pleaded guilty in federal court Wednesday to embezzling from the bank.
Thomas Hinkebein, 59, admitted that he “willfully misapplied assets” of Whitaker Bank when he was president there between Jan. 12, 2016, and Aug. 13, 2018, according to an announcement from the U.S. Attorney for the Eastern District of Kentucky.
Hinkebein waived his right to being indicted by a federal grand jury and pleaded guilty to one count of embezzlement by a bank officer in front of U.S. District Chief Judge Danny C. Reeves, according to the announcement. He is set to be sentenced in December and could face up to 30 years in prison and a fine of up to $1 million.
Hinkebein admitted to stealing golf carts and other property from the Andover Country Club, which is owned by Whitaker Bank, according to the announcement. He also admitted to asking for reimbursement from the bank for personal expenses like cell phone plans, gym memberships, fuel, vehicle repairs, technology for family members and landscaping for his home. The total amount embezzled was not released.
In an effort to hide that the expenses were personal, Hinkebein falsely reported them to make them look like work expenses, according to the announcement.
The case was investigated by the FDIC and the Federal Reserve. It was prosecuted by Assistant U.S. Attorney Kate K. Smith.
Whitaker Bank has a main office in Lexington and dozens of branches spread through 12 Kentucky counties.
This story was originally published September 2, 2020 at 3:47 PM.
