ND man pleads guilty in scheme to raid trust fundsThe husband of a former Dickinson bank officer accused of helping his wife in a scheme to raid trust accounts and mineral rights has pleaded guilty.
BISMARCK, N.D. (AP) — The husband of a former Dickinson bank officer accused of helping his wife in a scheme to raid trust accounts and mineral rights has pleaded guilty.
Elizabeth Kolling, a longtime Bank of the West employee in Dickinson, and her husband, Walter, are charged in federal court with conspiracy to commit bank fraud. The charge carries a maximum penalty of 30 years in prison.
Authorities say bank customers were defrauded out of nearly $800,000. Court documents show that one woman was forced to give up her mineral rights for less than $1,800, which resulted in more than $50,000 in royalties to the Kollings within eight months.
Sentencing for Walter Kolling is scheduled for Aug. 13. Elizabeth Kolling is scheduled to appear in court on May 31.