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Associated Press, Published April 30 2012

Defendants agree to plea deal in ND fraud case

FARGO — A former North Dakota bank vice president and her husband have signed plea agreements in federal court on accusations they bilked a handful of trust accounts out of nearly $800,000.

Elizabeth and Walter Kolling, of Dickinson, are facing charges of conspiracy to commit bank fraud. They have yet to appear in court.

Authorities say the fraud took place between 2001 and 2008 when Elizabeth Kolling was a trust officer for Bank of the West.

Attorneys for the estate of Betty Reichert say Reichert became distraught when she was forced to go on Medicaid and blame the scheme for her death.

Court documents accuse the Kollings of buying Reichert's mineral rights for less than $1,800 which resulted in royalties from oil companies of about $50,000 within eight months.


Copyright ©2012 The Associated Pres