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Accused Bank Embezzler Invested in Casino Boats

4 April 2002

OAKWOOD, Ohio – As reported by the Associated Press: "Just about every morning, Mark Miller would walk through the back door of the town's bar and grill and say hello to the regulars.

"…Then, the bank executive vice president would walk next door to work at the Oakwood Deposit Bank, where, federal prosecutors say, he embezzled $40 million from friends and neighbors in the farming town of 700 people.

"…The Federal Deposit Insurance Corp. seized and closed the bank's two branches in Oakwood and nearby Grover Hill on Feb. 1.

"…The collapse of the town's only bank, which had stood since 1905 and weathered droughts and the Depression, has stunned and saddened folks in northwest Ohio's farmbelt. It has left a school district and a community struggling to recover.

"It wasn't just the money. The Oakwood Deposit Bank was a place they relied upon.

"…Miller invested much of the money in casino boats in the South, prosecutors said.

"…Federal investigators say Miller, 47, of Grover Hill, admitted that he had manipulated bank records since at least 1999, according to an FBI affidavit.

"Miller has pleaded not guilty to charges of money laundering and embezzlement. His attorney and family have refused to comment since his February arrest. He is free on $1 million bail but is confined to his house…"

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