CEDAR RAPIDS, Iowa – A former employee of a financial brokerage firm in Mason City, who stole more than $391,000 from multiple clients, was sentenced Monday to more than five years in federal prison. Teresa Dorenkamp, 42, is receiving the prison term after an August 26, 2013, guilty plea to one count of wire fraud and one count of aggravated identity theft.
In a plea agreement, Dorenkamp admitted that, while employed by the financial brokerage, she took money from the firm’s clients by falsely depositing money belonging to the clients into Dorenkamp’s or her husband’s bank accounts. Dorenkamp was sentenced in Cedar Rapids and was sentenced to 65 months’ imprisonment. A special assessment of $200 was imposed, and she was ordered to make $391,725.31 in restitution. She must also serve a three-year term of supervised release after the prison term. There is no parole in the federal system.