Bank Exec Pleads Guilty to Embezzling $40M

Akron, OH - A major break in the case of an international banker accused of embezzling tens of millions of dollars.

David Verhotz pleaded guilty to one count of fraud on Thursday.

Verhotz was arrested last November for embezzling over $40 million dollars from his employer, Key Bank.

Sentencing is set for April 18th.