Sherwood & Roberts, Inc. v. Riplinger

BAKES, Chief Justice.

This is an appeal from the district court’s denial of a motion to set aside a default judgment. The appellant, Robert Riplinger,1 was employed by respondent Sherwood & Roberts, Inc., from February, 1969, to February, 1970, as a loan officer. In February, 1970, the respondent accused Riplinger of misappropriating funds. Rather than face criminal prosecution, Riplinger and his wife, Kathy, signed a “Memorandum of Agreement” on April 1, 1970, admitting among other things that “funds of Sherwood & Roberts were diverted to the bank account of Robert and Kathy Riplinger for…