BIRMINGHAM, Alabama --Federal prosecutors today charged the chief financial officer of a Talladega County hospice care company with bank fraud totaling $466,500, the U.S. Attorneys Office announced today.

The U.S. Attorney's Office filed a one-count information charge in U.S. District Court against Royce Leon Washburn Jr., charging bank fraud in connection to money embezzled from the accounts of American HomeCare Hospice held at Alabama Trust, announced U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Patrick J. Maley.

Prosecutors also filed a plea agreement with Washburn, 49, of Sylacauga, in which he acknowledges the embezzlement and agrees to plead guilty to the bank fraud, according to the statement.

The statement, citing court documents, describes Washburn conduct:

From January 2007 and until December 2011, when he was fired, Washburn worked as CFO for American HomeCare Hospice.

Financial records showed Washburn was writing checks to himself, while also receiving monthly direct deposits into his personal accounts that were beyond his authorized salary. Washburn would either approve the direct deposits that greatly exceeded his approved salary, or would use the signature of the owner of AHH to embezzle funds from the company's bank accounts.

Washburn issued approval for the direct deposits and submitted the false checks without the knowledge or authority of the hospice company owner, thereby materially misrepresenting his authority to the bank that held American HomeCare's accounts. Washburn embezzled a total of $466,500 from Alabama Trust.

The maximum sentence for the bank fraud is 30 years in prison and a $1 million fine.

The FBI investigated the case.