A man who embezzled $273,398 from First Tennessee Bank was sentenced Monday to pay back the bank and to spend 24 months in federal prison.
Louis Joseph Kominczak Jr., 30, of Chattanooga, earlier pled guilty to embezzling the money between the fall of 2000 and June 2003 while employed at Ringgold and Chattanooga locations of First Tennessee Bank.
Kominczak was sentenced by Chief Judge R. Allan Edgar to the prison time and ordered to pay restitution in the amount of $230,091. The amount of restitution was reflective of the total amount of the embezzlement, minus monies previously recovered from the defendant by First Tennessee Bank.
The public is reminded that parole has been abolished in federal cases and that federal prison sentences have to be served in the entirety, with the exception of up to a 15 percent reduction for good conduct in prison, officials said.
The investigation leading to the conviction was conducted by the Corporate Security Investigative Unit of the First Tennessee Bank and the United States Secret Service.
United States Attorney Sandy Mattice stated: “I particularly appreciate the professionalism and dedication of the investigative agents who have assisted in achieving this important white collar crime conviction, particularly Blake Hauk of the First Tennessee Bank and Special Agent Mike Caswell of the United States Secret Service.”