SIOUX CITY - A Sac City woman accused of defrauding people out of more than $4 million has pleaded guilty.

Charlene Marie Pickhinke, 48, from Sac City, pleaded guilty in federal court Thursday in Sioux City. She was convicted of one count each of wire fraud, making a false statement in a bank's books and records, money laundering and aggravated identity theft.

Pickhinke admitted that from 1995 until 2008, while working for a MetaBank branch in Lake View, she sold more than 40 fraudulent certificates of deposit to unknowing victims and admitted she opened two bank accounts using the names and Social Security numbers of deceased bank customers, according to a press release from the U.S. attorney's office for the Northern District of Iowa. In court documents, federal prosecutors allege that she used those bank accounts to launder the money she received from the CD scheme.

"MetaBank has been cooperating with the authorities investigating this case and we are pleased justice was served," Lisa Binder, vice president of Investor Relations & Corporate Communications for MetaBank, stated Friday.

Pickhinke was the branch manager for the Lake View office of MetaBank, according to Steve Spotts, Iowa State Bank president in Lake View.

Iowa State Bank purchased the MetaBank branch in 2007. He also said that none of the fraud took place with Iowa State Bank. Pickhinke was employed by Iowa State Bank until she resigned in December 2007.

Pickhinke remains free on bond pending sentencing. Sentencing will be set after a presentence report is prepared. She faces a possible maximum of 82 years in prison, a fine of approximately $8 million, $400 in special assessments and five years of supervised release following any imprisonment.

Contact Angela Burch at (515) 573-2141 or aburch@messengernews.net