The former Muskego branch manager of BMO Harris Bank pleaded guilty to embezzling more than $200,000 | Techy Kings

A former manager BMO Harris Bank branch in Muskego has agreed to plead guilty to embezzling $233,616 from the business, court records show. Court records show that Chelsea Hopf was charged with one count of theft/embezzlement by a bank official. He faces up to 30 years in prison and a fine of up to $1 million. As part of his guilty plea, he was also required to pay $233,616 in restitution to BMO Harris Bank. Hopf was hired by BMO Harris Bank in 2009 and was promoted to bank manager in 2016. On January 30, 2020, an audit was conducted at the Muskego branch location by another BMO employee. During the audit, four cashier drawers were found to be missing $201,616. Hopf had previously conducted his own audit. Hopf was later interviewed by BMO officials about the lack of cashier’s drawers. During the interview, Hopf said he had been stealing money from the bank for about two years, according to court documents. Bank records show that Hopf created fictitious deposits into various BMO Harris bank accounts. When these fictitious deposits were credited to a bank account, Hopf would make false entries in the bank’s computer system, specifically to one of its four cash drawers, to account for the fictitious cash deposits. This artificially increases the cash balance of the cashier’s drawer in BMO’s computer system because no actual cash is deposited. He then withdraws real cash, balancing clear funds in BMO’s system but creating real-life shortages in the cashier’s kit of drawers. Court documents state Hopf stole a total of $233,616 from the bank.