Bank manager admits stealing almost $550,000

DOYLESTOWN (AP) – A former bank manager in southeastern Pennsylvania has admitted stealing nearly $550,000 from elderly customers but says he can’t remember how he spent it.

The Bucks County Courier Times said 58-year-old Joseph Policare, of Quakertown, pleaded guilty Monday to multiple counts of theft, forgery and identity theft.

As part of a plea deal, he was sentenced to two to five years in state prison followed by 10 years of probation.

Policare told the judge that he doesn’t know how he spent the cash, which he stole over 10 years beginning in 2003 from customers ranging from 80 to 95 years old.

The bank has reimbursed the eight victims.

Policare was ordered to pay $547,459 in restitution to First Savings Bank. He managed the Dublin branch in Perkasie.