Former bank employee sentenced to 10 years for $4.3M theft

Associated Press
ANCHORAGE, Alaska (AP) – An Alaska bank employee who stole $4.3 million in cash has been sentenced to 10 years in federal prison.

Thirty-four-year-old Gerardo Valenzuela on Monday was given no credit for seven years he served in a Mexico prison for smuggling the cash and firearms to that country.

He was extradited in September and he pleaded guilty in January to theft of bank funds.

Valenzuela was 26 in July 2011 when he worked as a cash vault services manager for KeyBank.

After telling the branch manager he had to stay late to clean up after an ice cream social, Valenzuela boxed up $4.3 million in cash, rolled it to his car and flew away on a private jet.

Mexican authorities during a random search arrested him with guns, ammunition and $3.8 million.