A theft investigation started in April 2015 of 3.9 million dollars from the 1st National Bank of Walnut Ridge has led to 3 former employees entering guilty pleas in the crime. According to reports, Brenda Montgomery 57 years old of Walnut Ridge, Cindy Tate 57 years old of Walnut Ridge and Peggy Sutton 61 years old of Biggers have all three entered guilty pleas in the case, each faces a possibility of up to 30 years in prison, 1 million dollars in fines and will be required to repay the bank 1.3 million dollars in restitution.
According to a press release today, the three conspired in 2005 to steal the funds and used their positions in the bank to conceal the theft. The women would be alerted to audits and transfer the funds from other branches to cover money that was taken. A surprise cash audit after suspicions arose in 2015 led to the discovery.
All three women remain out on bond until their sentencing date.