Can a bank manager be convicted of embezzlement where the bank manager and defendant were very friendly?

[17 Cal.App.3d 752] 8] In People v. Fronk (1927) 82 Cal.App. 465, 255 P. 777, the court held the facts were sufficient to support a conviction of embezzlement where the bank manager and defendant were very friendly; the manager received money and gifts from defendant whom he thought of as an easy spender; the manager knew defendant kited a considerable number of checks but believed defendant could easily take care of all concealed overdrafts thus created; the manager had no authority to make loans for the bank or to accept personal checks on banks other than his own in return for cashier's checks; the manager issued cashier's checks in exchange for personal checks which were not honored. The evidence received by the grand jury in this case is sufficient to establish reasonable cause for returning an indictment for grand theft on the theory of embezzlement.