LOS ANGELES—A former chief financial officer of a downtown Los Angeles bank faces sentencing in May for embezzling more than $700,000 of his employer’s funds and stealing colleagues’ identities to open life insurance policies in their names to benefit his wife.
Sammy Sims, 61, of West Covina, pleaded guilty Feb. 22 in downtown Los Angeles to one federal count of bank fraud, according to the U.S. Attorney’s Office.
