Bank manager/borough councilman charged with embezzlement

PARKESBURG, Pa. (WPVI) -- A local bank president, who also serves as a Parkesburg, Pa. borough council member, is accused of embezzlement.

Anthony Rife, 38, is accused of embezzling more than $100,000 from clients of the Downingtown National Bank branch in Ludwig's Corner.

The Chester County district attorney's office said it all began in 2015 when Rife helped open a checking and savings account that was part of a trust account for a person with special needs.

Rife handled all of the later transactions for that account, investigators said.

In July 2017, a family member allegedly noticed that approximately $20,000 was missing.

The subsequent investigation revealed that Rife had been stealing money from eight different victims, and used a "complex web of transactions" to "cover up his activities," District Attorney Tom Hogan said.

Rife even used a dormant account belonging to a dead man as part of the scheme, Hogan said.

In all more than $118,000 was stolen, investigators said. Rife has been fired from the bank.

"People trust bank employees to handle their money with integrity. The defendant violated that trust and abused his authority. Now he will pay the price for his greed," Hogan said in a statement.
Rife has been charged with theft, forgery, and related crimes. Action News attempted to contact Rife at his home, but there was no answer.

Parkesburg Mayor John Hagan said no action will be taken against Rife while the case plays out.

The bank released a statement, saying, ""The safety and security of our customers and their accounts is our top priority, and we are cooperating with law enforcement authorities in this matter."

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