LEXINGTON, Ky. – A former bank president, Thomas Hinkebein, 59, was sentenced to 12 months in federal prison, by Chief United States District Judge Danny C. Reeves, after previously pleading guilty to one count of embezzlement by a bank officer.
According to his plea agreement, Hinkebein admitted that, between January 12, 2016 and August 13, 2018, while he was the President of Whitaker Bank, he willfully misapplied assets of the bank. Specifically, he admitted stealing golf carts and other property of Andover Country Club, an asset owned by Whitaker Bank, and seeking reimbursement from Whitaker Bank for a variety of personal expenses, including cell phone plans, gym memberships, fuel purchases, vehicle repairs, technology purchases for his family members, shipping expenses, and landscaping at his home. To hide the personal nature of these expenses, the Defendant falsely reported many of the expenses to Whitaker Bank to make them appear to be legitimate work expenses.