SD bank manager pleads guilty in siphoning $36,000 from JP Morgan Chase ledger

SAN DIEGO (CNS) – A San Diego bank manager pleaded guilty in federal court this week to secretly siphoning $36,000 from J.P. Morgan Chase’s general ledger through dozens of unauthorized cash withdrawals.

Mark Masiglat, 25, is scheduled to be sentenced Aug. 22 by U.S. District Judge Anthony Battaglia.

Masiglat admitted that he embezzled the funds between January 2011 and August 2012, while employed as the assistant branch manager at a J.P. Morgan Chase branch in Point Loma. The bank’s deposits are insured by the Federal Deposit Insurance Corp.

“Corrupt bankers cannot be allowed to treat federally insured accounts as their own personal piggy bank,” said U.S. Attorney Laura Duffy. “My office will not tolerate abuse of the public’s trust in our financial institutions. I want to thank the FBI for its commitment to ensuring the integrity of our local banks.”