inflation at Key: $29 million becomes $40.6 million in a few weeks

cleveland.com: Newslogs#210070--Great story of intrepid bookkeeping as $29 million magically grows to $40.6 million in the space of a few weeks. What's this action with "criminal information" as opposed to "indictment," anyway? Why? What's the effect on the ultimate outcome?

Feds charge bank exec
A former top executive at KeyCorp accused of embezzling millions of dollars was formally charged this morning in U.S. District Court in Cleveland. Federal prosecutors charged David Verhotz, 56, of Hudson, with bank fraud. Prosecutors filed a criminal information, rather than an indictment, against Verhotz, which is generally done when the accused is cooperating with investigators. Prosecutors say they have uncovered new information about Verhotz since his arrest at Cleveland Hopkins International Airport on Nov. 11. Verhotz stole $40.6 million from KeyCorp between 1997 and 2003, prosecutors said. Previously, prosecutors believed Verhotz stole about $29 million between 1999 and 2003. Verhotz was arrested by FBI agents after returning from a trip. Verhotz was a senior vice president who ran the global trade services unit. He was responsible for KeyCorp's worldwide foreign correspondent banking relations, dealing with overseas banks whose customers do business in the United States. Court testimony during Verhotz's court hearing last month revealed that Verhotz lived a double life, with a wife and four children in Ohio and a Canadian fiancée in New York. Investigators say Verhotz lived a life of luxury beyond what his $110,000-a-year salary could buy him. He bought his fiancée, Kim Chen, a $1.1 million engagement ring and $400,000 diamond earrings.