There he will serve a term of 63-months in federal prison, followed by a term of five years supervised release following his guilty plea in March to one count of embezzlement while acting as President and CEO of First National Bank, Rosedale, a position he held at the bank for 40 years.
He was also ordered to pay restitution in the amount of $1,530,000.
McCaslin began working for First National Bank of Rosedale in April 1967 and, according to court documents, he worked his way up the employment latter and eventually became the president and CEO of the bank until he was suspended in 2009 and his subsequent retirement in January 2010.
In his plea agreement, McCaslin said that he used his authority as president and CEO of FNBR to embezzle $18,067.89 for his own personal use. As part of the plea agreement, the United States agreed to not seek verdicts on the other charges that McCaslin was facing.
The Federal Deposit Insurance Corporation Office of the Inspector General, the Federal Bureau of Investigation and the United States Treasury Department Office of the Inspector General investigated the case.
"The crimes committed by McCaslin tell a disturbing tale of avarice and greed," said U.S. Attorney Felicia C. Adams. "He abused his position of trust for his own financial gain. The sentence McCaslin received reinforces the message that federal courts view embezzlement as a serious crime that warrants significant punishment. The United States Attorney's Office is committed to holding those who abuse their authority accountable for their illegal activities."
After recanting McCaslin's not guilty plea and coming to a plea agreement, Gerald Jacks, counsel for McCaslin, petitioned the court to take leniency.
"The court is respectfully requested to depart downward from the sentencing guidelines because of the defendant's extraordinary acceptance of responsibility and cooperation," said Jacks in the motion. "He never tried to hide his guilt and has accepted full responsibility for his actions. He has paid over $250,000 back to the bank, without being required to do so and well before his conduct was discovered by the examiners. This request is also made because McCaslin has led a life exemplified by helping others in times of need."
Since FNBR was a banking institution where deposits were insured by the Federal Deposit Insurance Corporation, or F.D.I.C., McCaslin's guilty plea put him in violation of Title 18 of the United States Code, Section 656, which carries a maximum possible penalty of not more than 30 years imprisonment, a $1,000,000 fine, or both, and five years of supervised release.
McCaslin is set to be released in December 2017.