Clarksville banker charged with embezzlement - KWWL - Eastern Iowa Breaking News, Weather, Closings

Clarksville banker charged with embezzlement


A former bank employee in Clarksville is being charged with embezzling money. 

According to court documents, George Todd Powers is accused of transferring bank funds to himself while he worked at Iowa State Bank as a cashier.

Fred Maifeld, the president & CEO of Iowa State Bank, says discrepancies in bank ledgers were discovered June 8th.

After the bank's investigation, Powers was placed on administrative leave and then resigned through his attorney the following day.

Maifeld says the discrepancies did not involve any consumer accounts.

The bank has filed a civil suit against Powers in Butler County. 

The case is also being looked into by the Federal Bureau of Investigation and Secret Service.

The amount of money involved in the matter was not made available by Iowa State Bank, and was not reported in court documents.


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