Bank V.P., Youth League Treasure Faces 30-Years for Stealing Over $140,000
TAMPA – Rumors that CenterState Bank Senior Vice President, David Donato was under investigation for fraud have milled around Hernando County for months. Those allegations turned out to me more than just rumors, after the United States Justice Department released a statement yesterday, detailing an investigation that led to charges of Bank Fraud against Donato.
According to officials, Investigators with the Hernando County Sheriff’s Office and the U.S. Secret Service discovered that while Donato worked as Senior V.P. and Commercial Lender for CenterState Bank, he stole more $143,878.80.
Investigators say Donato served as treasurer for the Hernando County Youth League (HYL), where he had sole signature authority for the non-profits.
During a routine audit in 2015, CenterState Bank discovered suspicious activity dating back to 2011, where Donato had obtained lines of credit and loans in the name of HYL.
Investigators determined that by forging documents, Donato used $98,000 for personal expenses, including paying his mortgage, credit cards, cellphone and cable bill. Donato also wrote checks to himself, totaling $39,400 and cash withdrawals of $3,400.
The case will be prosecuted in Federal Court by U.S. Attorney Mandy Riedel, and if convicted, Donato could face up to 30 Years in Federal Prison.
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