CEDAR RAPIDS – A former employee of a financial brokerage firm in Mason City, Iowa, who stole $391,725.31 from multiple firm clients was sentenced today to more than five years in federal prison.
Teresa Dorenkamp, 42, from Mason City, Iowa, received the prison term after an August 26, 2013, guilty plea to one count of wire fraud and one count of aggravated identity theft.
In a plea agreement, Dorenkamp admitted that, while employed by the financial brokerage, she fraudulently obtained money from the firm’s clients by falsely depositing money belonging to the clients into Dorenkamp’s or her husband’s bank accounts. Dorenkamp admitted one such false deposit occurred on June 3, 2011, when Dorenkamp had $36,139.60 wire transferred from a client’s investment account into Dorenkamp’s own bank account. Dorenkamp further admitted she forged the signature of that client in order to complete the false deposit. Dorenkamp further admitted she caused $391,725.31 in fraudulent transfers and deposits from May 2007 through August 2011.
Dorenkamp was sentenced in Cedar Rapids by United States District Court Chief Judge Linda R. Reade. Dorenkamp was sentenced to 65 months’ imprisonment. A special assessment of $200 was imposed, and she was ordered to make $391,725.31 in restitution. She must also serve a three-year term of supervised release after the prison term. There is no parole in the federal system.
Dorenkamp was released on conditions previously set and is to surrender to the Bureau of Prisons on a date yet to be set.
The case was prosecuted by Assistant United States Attorney Anthony Morfitt and investigated by the Federal Bureau of Investigation and the Mason City Police Department.
They/she probably more than one account and most likely in different facilities, don’tch think.
The number of accounts is irrelevant. As her spouse, I would be questioning how all of a sudden I’m able to buy big dollar items.
There are several people who embezzled money and either got off all together or got light sentences. This is not a light sentence. Its definitely deserved though. Her husband divorced her upon finding out about this.
Was that a way to distance himself from the crime? I thought marriage was for better or worse.
What about the husband, he didn’t notice the 36 G’s in his account.
I have the same question. How would you not know that something is up if all of a sudden you have 36G in your bank account?? Not to mention all of the big dollar purchases? Seems fishy.
Well, Let’s just thank God all she did was steal almost a half a million dollars from unsuspecting clients and didn’t get caught growing a few pot plants or she’d have gotten the 5 years, PLUS her home, car and all other assets seized.
Seeing as how she didn’t grow some plants, she can keep her home and car.
Word.
scum,scum,scum,scum,scum,scum should have got life