Mosinee banker pleads guilty to federal charge - WAOW - Newsline 9, Wausau News, Weather, Sports

Mosinee banker pleads guilty to federal charge

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UPDATE - 1/23/13 - A former senior vice president of River Valley Bank pleaded guilty to a federal charge that carries a maximum sentence of 30 years in prison and a million dollar fine.  Jeffrey Tiffany appeared in U.S. District court in Madison.

According to the U.S. Justice Department, Tiffany was responsible for financing insurance premiums for Manson Insurance while employed at River Valley Bank.

Investigators say he made a false statement about insurance premium notes.

As part of the plea agreement.. Tiffany will pay restitution for all losses related to the charge.

Prosecutors say they'll seek about $40,000 in restitution.  Tiffany's lawyer said he had no comment on Tiffany's behalf.

Tiffany's sentencing is scheduled for April 10, 2013.

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UPDATE - A former senior vice president of River Valley Bank in Wausau will take a plea deal on a federal charge.  The US Justice Department says 67-year-old Jeffrey Tiffany of Mosinee was responsible for handling the insurance premiums for Manson Insurance while employed at River Valley Bank.

Investigators say he made false statements about insurance premium notes.

The plea hearing is set for January 23rd.

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MADISON (WAOW) - A former banking executive from Mosinee is facing a federal charge.

The U.S. Attorney's office says 67-year-old Jeffrey Tiffany made a false statement to a financial institution involving an insurance premium financing program with Manson Insurance. At River Valley Bank in Wausau, Tiffany was responsible for approving all insurance premium financing notes from Manson Insurance.

Prosecutors allege Tiffany knew a financing note from Hardswood Corp. was not a legitimate note but represented it as such.

The maximum penalty for a conviction is 30 years in federal prison and a $1 million fine.

The investigation was headed by the FBI. Tiffany did not immediate return a phone message seeking comment.

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