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Date: 10-28-2020
Case Style:
Case Number: 5:20-cr-04083-LTS-KEM
Judge: Leonard T. Strand
Court: United States District Court for the Northern District of Iowa (Woodbury County)
Plaintiff's Attorney: United States District Attorney’s Office, Sioux City, Iowa
Defendant's Attorney:
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Description: Sioux City, Iowa embezzlement criminal defense lawyer represented defendant with stealing $1.5 million from her employer.
Brenda Jensen, age 53, from Denison, Iowa, was with embezzlement stealing nearly $1.5 million over several years her credit union employer.
In a plea agreement, Jensen admitted that from at least May 2012 to March 2018, she embezzled money from Consumer Credit Union (CCU) in Denison, Iowa while working there as an employee. CCU serviced Crawford, Carrol, Shelby, Ida, Monona, Sac, and Harrison counties.
Jensen and at least one other employee embezzled a total of nearly $1.5 million. Jensen, the credit union’s head teller, was responsible for all cash and cash counts at CCU during the relevant timeframe. Jensen successfully concealed her crime from auditors and CCU for years. Jensen was able to conceal the crime in numerous ways, including overstating the change fund in the credit union’s general ledger balance, and participating with at least one other employee in issuing and depositing fraudulent checks to cover up their ongoing theft. Jensen further concealed the embezzlement by creating fictitious deposits into her personal accounts at CCU. After years of embezzling, the employees changed their methods of concealment and developed another concealment scheme. The new scheme caused CCU an additional $539,000 in losses. CCU’s total cash loss caused an insolvency resulting in a forced merger with SAC Federal Credit Union. CCU was insolvent with negative equity of approximately $481,206, and the value of its assets had decreased by over a million dollars. The million dollar decrease was a direct loss from fraudulent activity.
Sentencing before United States District Court Chief Judge Leonard T. Strand will be set after a presentence report is prepared. Jensen remains free on bond pending sentencing. Jensen faces a possible maximum sentence of 30 years’ imprisonment, a $1,000,000 fine, and 5 years of supervised release following any imprisonment.
The case is being prosecuted by Assistant United States Attorney Ron Timmons and was investigated by the Federal Bureau of Investigation.
18:657 and 2 LENDING, CREDIT AND INSURANCE INSTITUTION
(1)
Outcome: 10/20/2020 8 SEALED Pretrial Services Report as to Defendant Brenda Jensen PLEASE NOTE: The Pretrial Services Report shall be used for the purposes of bail determination only and shall remain confidential as provided in Title 18 U.S.C. Section 3153(c)(1). The Pretrial Services Report is not public record and shall not be reproduced or disclosed to any other party (Sturdevant, Matt) (Entered: 10/20/2020)
10/20/2020 9 MINUTE Entry for proceedings held before Chief Magistrate Judge Kelly K.E. Mahoney: Initial Appearance, Arraignment, and Change of Plea Hearing as to Defendant Brenda Jensen (1) Count 1 held on 10/20/2020. Attorney John Keith Rigg for defendant. Defendant entered a plea of guilty to Count 1 of the Information. Government Exhibit 1 to be filed under seal by 10/23/2020. Defendant released. Order to follow. (Official Court Record: FTR Gold) (jag) (Entered: 10/20/2020)
10/20/2020 10 APPEARANCE BOND AND ORDER Setting Conditions of Release as to Defendant Brenda Jensen. Signed by Chief Magistrate Judge Kelly K.E. Mahoney on 10/20/2020. (jag) (Entered: 10/20/2020)
10/20/2020 11 NOTICE of Filing of Sealed Exhibits for/from Hearing By Plaintiff as to Brenda Jensen re 9 Initial Appearance,, Arraignment,, Change of Plea Hearing, (Timmons, Ronald) (Entered: 10/20/2020)
10/20/2020 12 REPORT AND RECOMMENDATION to Accept Guilty Plea to Count 1 of the Information as to Brenda Jensen. Objections to R&R due by 11/3/2020. Signed by Chief Magistrate Judge Kelly K.E. Mahoney on 10/20/2020. (jag) (Entered: 10/20/2020)
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