Rose Vargas, the former manager at U.S. Bank on Taos Plaza, pleaded guilty to one felony count of embezzlement Tuesday (Feb. 25) as part of a plea deal with the 8th Judicial District Attorney's Office.
Vargas was indicted by a grand jury last May with two second-degree felony counts of embezzlement after she allegedly moved money from various accounts at U.S. Bank between 2015 and 2018. The second count was dropped on Tuesday.
As part of the plea, the prosecution agreed to a sentence cap of three years in prison for the felony count of embezzlement over $20,000, but how much time Vargas will serve in prison – if any – has yet to be determined.
“I allowed myself to make a decision out of desperation and for that I am truly sorry,” Vargas said through tears on Tuesday.
District Judge Emilo Chavez deferred sentencing pending a draft of a restitution plan for Vargas. The plan could be drawn up within 60 days.
During the hearing, defense attorney Alan Maestas said his client could be "a great candidate for probation" rather than prison.
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