Licensed Fiduciary Gets 18 Months for Fund Diversion

Teresa Laggner, a licensed fiduciary, was sentenced today (Sept. 19) to 18 months in custody and ordered to pay $471,000 in restitution for defrauding trust beneficiaries. From 2006 through early 2011, she managed bank accounts holding valuable assets for the benefit of trust beneficiaries.

But the U.S. Attorney's office said that she systematically transferred trust funds to personal accounts without authorization from trust beneficiaries, and blew much of the money at local casinos. She pleaded guilty Feb. 18.

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Comments

A slap on the wrist,why only 18 months,and why was this plea bargained?

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