Former Belding mayor pleads guilty

BELDING, Mich. (WOOD) - The former Belding mayor, accused of embezzling thousands of dollars from First Bank of West Michigan when he was employed there, pleaded guilty Wednesday.

Shane Husted, who suddenly resigned in July, pleaded guilty to one count of theft of bank funds, according to the agreement.

He waived his right to indictment by a grand jury. Husted is accused of embezzling more than $1,000 from the bank. As part of the plea agreement, he is expected to make restitution to the bank for $53,333.67.

Husted also faces up to 30 years in federal prison and a maximum fine of $1,000,000. After serving his minimum sentence, he also faces five years of supervised release.

The complaint against Husted alleges he used an individual's name to make loans through the bank without that person's consent. He then kept the proceeds of the loans for his own personal benefit. The unnamed person had no knowledge of the loans made in his or her name.

As part of the plea deal, the government has agreed not to press charges of identity theft for making the unauthorized loans.

He was released on bond until his sentencing, but no sentencing date has been set.

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