A former president of Whitaker Bank was sentenced to 12 months in federal prison after previously pleading guilty to embezzlement by a bank officer.
According to the plea agreement, Thomas Hinkebein, 59, admitted that between Jan. 12, 2016 and Aug. 13, 2018, he "willfully misapplied assets of the bank." Specifically, he admitted stealing golf carts and other property of Andover Country Club, an asset owned by Whitaker Bank, and seeking reimbursement from the Lexington-based bank for a variety of personal expenses, including cellphone plans, gym memberships, fuel purchases, vehicle repairs, technology purchases for his family members, shipping expenses and landscaping at his home. To hide the personal expenses, Hinkebein falsely reported many of the expenses to Whitaker Bank to make them appear to be legitimate work expenses.
Hinkebein pleaded guilty in September and was sentenced this week by Chief U.S. District Judge Danny C. Reeves.
In addition to the prison sentence, Hinkebein was fined $5,500 and ordered to pay $50,739.56 in restitution. Under federal law, Hinkebein must serve 85% of his prison sentence; upon release from prison, he will be under the supervision of the U.S. Probation Office for three years.