A man, who allegedly worked with a bank vice president to stage a robbery so the two could share the money, has pleaded guilty to his role in the fake heist. 58-year-old Eugene Babcock of Moro entered the guilty plea in U.S. District Court in East St. Louis and could face up to ten years in prison.
Federal authorities say Babcock worked with former vice president of Liberty Bank to stage a robbery of the Bethalto branch on December 13. Matthew Liebheit has pleaded not guilty to similar charges in the case and is awaiting trial. Bethalto Police were reportedly told by Liebheit that someone pulled a gun on him outside the bank on the morning of the robbery, and forced him inside where Babcock left with more than $100,000. As police reviewed surveillance video and conducted interviews, they developed the case against the suspects, and Babcock reportedly admitted to the scheme. Authorities say he turned over the money from the bank that was in his possession and is cooperating with the ongoing investigation.