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After a change of plea hearing held in U.S. District Court in San Francisco last week, Stephanie Simontacchi, a former accounting manager for a California credit union and a former assistant controller for a local hotel, will be sentenced in June.

She pleaded guilty to one felony count of bank fraud, one felony count of misapplication and embezzlement of credit union funds, and one felony count of tax evasion, according to court documents. An indictment returned by a federal grand jury last year originally charged Simontacchi with seven counts of bank fraud, seven counts of misapplication and embezzlement of credit union funds, and four counts of tax evasion. Simontacchi initially pleaded not guilty to those charges.

Peter Strozniak

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