Walsall bank clerk took £93k to pay gambling debts

A bank clerk has admitted embezzling more than £93,000 from his Black Country employers over two years to feed his gambling habit.

Scott Worrall created up to 50 fake bank accounts as part of the fraud from the Santander Bank where he worked.

He admitted abusing his position at the branch in Park Street, Walsall, from July 2007 to September 2009. The embezzlement involved a total of £93,723 and Worrall could face jail when he is sentenced at Wolverhampton Crown Court next month. He was told his actions were a ‘significant breach of trust’.

Santander said Worrall, aged 34, no longer worked for the company and customers had not been left out of pocket.

Worrall, of Raeburn Road, Great Barr, appeared before Judge Martin Walsh where he pleaded guilty to the charge of fraud.

Part of his job was to open bank accounts and he set up scores in false and real names with an overdraft of £2,000, creating unauthorised credit which was then accessed through a series of cash withdrawals.

The accounts were mainly used to settle gambling debts.

A brief hearing was held at Wolverhampton Crown Court for the plea to be entered. The case was adjourned until June 7 for a pre-sentence report to be prepared. Worrall was granted unconditional bail until the sentencing hearing.

Briefly raising the case Mr Howard Searle, prosecuting, said the charge related to an abuse of position.

He said Worrall ‘did have a gambling problem’ when the offence was committed.

Mr Lee Masters, defending, claimed Worrall did not receive all of the amount but said he accepted his culpability.

Adjourning the case for the report Judge Martin Walsh said: “This was a significant breach of trust.”

West Midlands Police was called in to investigate the offence when officers were alerted that fraudulent bank accounts had been opened at Santander in Walsall. Worrall was initially arrested on April 13 last year.

Following an investigation he was charged with the fraud on February 14 this year and first appeared at Walsall Magistrates Court later in the month.

Santander spokeswoman Siobhan O’Shea said: “An incident of this type is treated very seriously. In this case, we reported the matter to the police and undertook a full internal investigation.”

Bank teller gets prison,must repay stolen money in Mississippi

Former Picayune bank teller Vonetta Jordan was sentenced Thursday to 17 months in prison for bank fraud and ordered to repay $117,883.25.U.S. District Judge Sul Ozerden also ordered two years of probation after her release from prison.Jordan, 37, of Poplarville, was the head teller at Union Planters Bank before Regions Bank acquired it.The money was embezzled between April 2004 and February 2005. She pleaded guilty in February.Debra Mitchell, a teller who worked under Jordan, was sentenced in March for helping steal the money. Mitchell, 43, from Carriere, received a six-month prison term followed by six months of house arrest and two years of probation. She also must help repay Regions Bank.The case was investigated by the FBI and prosecuted by the U.S. Attorney's Office.

Mississippi Woman sentenced in bank embezzlement case

A Marshall County woman has been sentenced to 2 1/2 years in prison for embezzling money from a Holly Springs bank.The U.S. attorney's office says 53-year-old Deborah Shaw of Waterford was sentenced in U. S. District Court in Oxford on Tuesday.Court records show Shaw pleaded guilty last year to one count of taking nearly $325,000 from the Merchants and Farmers Bank in Holly Springs.U.S. District Judge Neal B. Biggers Jr. placed Shaw on five years' supervised release. She also was ordered to pay restitution in the amount of $327,842.Shaw was ordered to begin serving her sentence June 17 at facility chosen by the U.S. Bureau of Prisons.

Ellington, Missouri bank manager sentenced to nearly 5 years for bank fraud

Irvin R. Eddington, Jr., 43, of Ellington, Missouri was sentenced to 57 months in prison on bank fraud and embezzlement charges, involving his issuance of fraudulent letters of credit while he was Vice President and Manager of the Ellington Branch of People’s Community State Bank (PCSB).
In addition to the prison sentence, he was ordered to pay restitution of $1,195,696.

Eddington pleaded guilty in February to one felony count of bank fraud and one felony count of embezzlement by a bank employee

He is accused of issuing more than $1.3 million in fraudulent unsecured irrevocable letters of credit to an associate in the name of PCSB from January 2004 to October 2011. Then, the associate secured loans from other places using the letters of credit as collateral. The associate kept and used the funds from those loans. According to the U.S. Attorney's Office Eastern District of Missouri, Eddington did not have the authority to issue any of those letters of credit and did so without the knowledge or permission of the bank.

Eddington is also accused of not discussing the unauthorized letters when it came up a bank board meetings. The total value of the letters of credit issued and thus the potential loss to the bank for this scheme, was approximately $1,340,896, however, based on loan defaults to date, PCSB is liable for approximately $674,336. Eddington approved a nominee load to two bank customers on March 11, 2010. He reported the loan of $45,000 to the bank, but did report he was receiving the proceeds of the loan. That particular scheme cost the bank $58,500.

From February to October 2011 Eddington created fake PCSB money orders funded by advance from customer line of credit to get cash or pay his bills. According to the U.S. Attorney's Office, Eddington forged the customer's name of customers he knew did not monitor their loan histories and who did not have access to their account online. He would then tell the teller the customer had come into the bank earlier that day and he was handling the transaction for the customer. He also would sometimes deliberately not mail the customers he targeted their bank statements.

In another instance, Eddington did not tell the bank loan committee that one of his associates would be receiving more than $50,000 cash from a $249,000 loan. If they had known that, they would not have approved the loan. However, the loan was approved on August 4, 2011. The collateral for the loan was also misrepresented because the associated provided a fraudulent title insurance policy as part of the loan application.

Poplar Bluff, Missouri bank employee charged with embezzlement

 The FBI arrested a First Midwest Bank employee Friday on suspicion of embezzling nearly $400,000 from the institution.

Bank teller supervisor Leslie Ann Eastwood Kirby, 38, of Poplar Bluff turned herself in to authorities at approximately 8:30 a.m. at the Poplar Bluff Police Department.

She was taken by FBI agents to a federal holding facility, according to Poplar Bluff police chief Danny Whiteley.

Kirby is accused of taking the funds during a period of time ending March 28, according to a copy of an indictment filed with the Southeastern Division of the U.S. District Court's Eastern District.

"There is no evidence that any customer accounts were involved in the theft," First Midwest executive vice president Dale Dickerson said in a statement. "The bank, like all banks, has insurance to cover this type of incident."

The discrepancy was discovered during an internal audit, he said.

The missing funds were reported to police March 28, said Whiteley, who complimented the bank on its assistance and full cooperation with the investigation.

"We were contacted by officials for First Midwest Bank about a discrepancy in their vault. … We did a preliminary investigation and ascertained it was going to be an internal theft, then contacted the FBI in Cape Girardeau," Whiteley said.

A joint investigation between the two agencies led to Kirby's arrest, he said.

The indictment filed by federal prosecutor Morley Swingle said Kirby "willfully misapplied or embezzled the sum of approximately $397,000 of the funds … in that the defendant wrongfully and without authorization took money that came into her possession as the supervisor of the bank tellers and used it for her own benefit."

4 ex-Virginia bank execs face jury in $71 million embezzlement case

Federal court jurors in Norfolk are set to continue their deliberations in the trial of four former Bank of Commonwealth executives and a developer accused of conspiring to defraud the bank out of $71 million.
The Virginian-Pilot reports that the jury met briefly on Friday before breaking for the weekend. They resume deliberations Monday.
The defendants include the former bank president and CEO, two former vice presidents and a mortgage specialist. A developer is also a defendant.
A defense attorney called the case "the silliest bank fraud that ever existed."
A prosecutor countered that the fraud was tantamount to opening the vault and handing out millions.
Jurors' deliberations followed nine weeks of testimony.

THE 2012 MARQUET REPORT ON EMBEZZLEMENT is Published

http://www.marquetinternational.com/pdf/the_2012_marquet_report_on_embezzlement.pdf

Credit Union Embezzlement Up in 2012: Report

From CUTimes.com


The financial services industry was the most frequent victim and experienced the greatest losses from major embezzlement schemes last year, and nearly one in four involved credit unions, according to the 2012 Marquet Report on Embezzlement that was released Tuesday.

The report, which analyzed 528 major embezzlement cases in which at least $100,000 was misappropriated, found that 15% (about 80 cases) involved financial services firms but did not include insurance-related entities. Of that 15%, according to the report, 23% (about 18 cases) involved credit unions.

In 2011, only eight of the 58 financial services embezzlement cases involved credit unions.

 “The financial institutions are always at the top of the list in terms of both the frequency of embezzlement cases and the volume of losses, and credit unions in particular seem to be hard hit,” said the report’s author Christopher Marquet, founder of Marquet International Ltd.,  a Wellesley, Mass., investigative, litigation support and due diligence firm.

Marquet’s report said the 2012 fraud cases involving credit unions probably resulted from “their relatively less-stringent control structure than commercial banks and other financial institutions.”

For example, the report highlights the case of Sharon Broadway of Toledo, who had been employed as the “manager, secretary, board member and sole employee” of the United Catholic Credit Union in Temperance, Mich.

She was able to siphon a total of $2.1 million for more than 20 years. Michigan prosecutors said Broadway managed to conceal her crimes through a complex money-laundering scheme involving forged checks and multiple aliases.

The credit union was shuttered last year, and Broadway was sentenced to 20 years in prison in January.

“This case illustrates that when you have what appears to be zero business controls, you are inviting trouble,” the report reads. “We note that the Broadway case in only one in six that exceeded 20 years in duration.”

In addition to Broadway’s case, Credit Union Times reported on four other multimillion dollar fraud and embezzlement cases in 2012 including:

Ignacio Morales, former CEO of the $7 million Borinquen FCU, pled guilty to embezzling $2.3 million and causing the Philadelphia financial institution to collapse.
Theresa “Teri” Portillo, former manager of the shuttered $2 million Women’s Southwest FCU, who pleaded guilty to stealing $3.4 million from the Dallas-based credit union.
William Liddle, former business lending vice president of AEA FCU in Yuma, Ariz., and his wife Rhonda Liddle, were found guilty of participating in a business loan kickback scheme. They were ordered to pay more than $25 million in restitution.
Michael Ross Franco, a former loan officer for My Community FCU in Midland, Texas, who pled guilty for defrauding the cooperative out of $4 million in an auto loan kickback scam.
Though tough economic conditions can drive people to steal, the Marquet Report’s data suggest that the primary motivating factor for perpetrators of major long-term embezzlement is to obtain and maintain a lifestyle far grander than what they would otherwise be able to attain.

“In many cases, the thefts actually began in good economic times, while they continued over many years,” the report said.

“We have also noted that during boom years, embezzlement can easily go unnoticed since the victim organization may be making healthy profits and the perpetrator begins by taking relatively small, regular amounts that fall under the radar,” the report said. “Many embezzlers accelerate their theft over time, leading to a higher probability of getting caught.”

Second to the financial services industry, government agencies and municipalities accounted for 11% of embezzlement cases last year and 9% involved other non-profit organizations. Health care, professional services, real estate and religious entities combined for 22% of embezzlement cases last year.

The report also found that 58% of embezzlement incidents involved women. Men embezzlers, however, stole nearly three times as much as women. More than 67% of embezzlers held a bookkeeping or finance position.

The most common embezzlement scheme involved forged or unauthorized company checks, while in nearly 33 % of the cases the embezzlers reportedly had a gambling issue, according to the report.

Bank employee charged with embezzling $135,700 in Kentucky

A Bank of Kentucky employee has been charged with embezzling more than $130,000, the U.S. Attorney's Office said Friday.In addition to bank embezzlement, Rebecca Hatfield, 34, was charged with making a false statement and 46 counts of making false entries in bank records, according to a news release. From December 2007 to August 2011, Hatfield took about $135,700 from the Bank of Kentucky, the news release said.Hatfield, of Columbus, Ind., worked at Bank of Kentucky in Florence.She is accused of making false entries into bank accounting records and lying to an FBI agent in denying that she embezzled money. She allegedly told an FBI agent another bank employee took the money, the news release said. If convicted, Hatfield could face up to 30 years in prison.

Former Citizens Bank Teller Sentenced for Embezzlement in Massachusetts

A former bank teller was sentenced today for committing bank fraud in connection with her embezzlement of $377,000 from Citizens Bank.

Maria DaSilva, 54, of Smithfield, Rhode Island, was sentenced by U.S. District Judge Richard Stearns to 27 months in prison, to be followed by 36 months of supervised release, and ordered to pay $377,926 in restitution. In January 2013, DaSilva pleaded guilty to bank fraud.

From February 2008 through January 2012, while she was working as a bank teller at the North Attleboro branch of Citizens Bank, DaSilva embezzled over $375,000 from the accounts of three elderly bank customers by forging withdrawal slips on various accounts they held.

United States Attorney Carmen M. Ortiz and Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division, made the announcement today.

The case was investigated by the Lakeville Office of the Federal Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney Jeremy Sternberg of Ortiz’s Economic Crimes Unit.

In addition, DaSilva was ordered to pay $377,926 in restitution.

In January 2013, DaSilva, a teller at the Citizens Bank branch at Stop & Shop, pleaded guilty to stealing the money from the accounts of three elderly bank customers from February 2008 to January 2012 by forging withdrawal slips on the various accounts they held, according to prosecutors.

During the course of the fraud, DaSilva stole from the account of one elderly victim to cover her misdeeds when a family member of a victim who died came to close the accounts to settle the estate, according to court records.

Assistant U.S. Attorney Jeremy Sternberg sought a 30-month sentence, noting that DaSilva stole from elderly victims she knew were vulnerable. He discounted her claims of financial and family hardships, noting the large amount of money she stole in a short period of time.

Saying the embezzlement was not a single occurrence, Sternberg wrote in an 11-page sentencing memorandum that "it involved the care, craft and cunning to execute the criminal activity on almost 100 separate occasions over a nearly 4-year period.

The victims were identified only by initials in court records and their losses were covered by Citizens Bank.

A federal public defender for DaSilva, Christopher Skinner of Boston, argued against incarcerating his client. He recommended a probationary period of five years with six months of home confinement on an electronic bracelet.

Skinner wrote in a 15-page sentencing memorandum that DaSilva was not motivated by greed, gambling debts or substance abuse problems. He said she incurred financial hardships after her husband was twice convicted of drunken driving and was fired from his job. In addition to being the sole bread winner in the family, DaSilva was also the sole caretaker of an elderly mother with dementia, Skinner said.

"She did not adopt a lavish life style or buy expensive cars or jewelry," Skinner wrote.

The public defender also noted that DaSilva, the mother of two sons who are about to enter the military, felt remorse over her crime, cooperated with bank investigators and was admitting to the bank fraud before prosecutors had to seek a grand jury indictment.

The case was investigated by the Lakeville office of the Federal Bureau of Investigation.

Bank Employee Indicted for Embezzlement of Nearly $250,000 in West Virginia

United States Attorney William J. Ihlenfeld, II, announced that Deborah D. Radcliff, age 41, of Weston, West Virginia, was named in an eight-count Indictment charging her with one count of embezzlement by a bank employee and seven counts of structuring.

According to the indictment, while serving as the branch manager of the Weston branch bank of Huntington National Bank from July 1, 2011 to November 5, 2012, Radcliff embezzled and misapplied $247,249.88 from depositors’ accounts and engaged in acts of structuring to cause the bank to fail to file a currency transaction report for currency transactions of $10,000 or more. To execute the scheme, Radcliff utilized her position as branch manager to issue or direct to be issued cashier’s checks from funds withdrawn from depositors’ accounts issued in the name of the depositor. Radcliff would take possession of the cashier’s check, forge the name of the depositor, and cash the checks for her own personal benefit. The ages of the alleged victims ranged from 56 to 90 years, with all but one alleged victim 64 years or older.

The indictment also seeks the forfeiture of a money judgment of the $247,249.88. If convicted, Radcliff faces up to 30 years’ imprisonment and a $1,000,000 fine on the embezzlement count and up to 10 years’ imprisonment and a $500,000 fine on each of the structuring counts. This case will be prosecuted by Assistant United States Attorney John C. Parr and was investigated by the Federal Bureau of Investigation.

Wykoff, Minnesota woman charged with embezzling from bank

Cheryl Lynn Holzer was charged Friday with one count of bank embezzlement following an investigation by the FBI, according to a news release from a spokesman with the U.S. Attorney-Minnesota.

Holzer allegedly took bundles of cash from the bank’s vault between December 2010 and February 2012.


If convicted, Holzer faces a maximum penalty of 30 years in prison. Any sentence will be determined by a federal district court judge.

A 64-year-old woman from the southeastern Minnesota offered a guilty plea Wednesday to embezzling more than $35,000 from a bank where she worked as the head teller.

Cheryl Lynn Holzer pleaded guilty to one count of bank embezzlement in U.S. District Court in Minneapolis.

In her plea agreement, Holzer admitted that between December 2010 and February 2012, she took bundles of cash from the vault at the Security State Bank in Wykof for her personal use, primarily to pay her mortgage and other bills.

For her crime Holzer faces a potential maximum penalty of 30 years in prison. Judge David Doty will determine her sentence at a later date

Prosecutors seek prison for Owego, New York woman in bank embezzlement case

An Owego woman, one of three former employees at Chemung Canal Trust Co.’s Owego branch who admitted embezzling more than $325,000 over eight years, is the only defendant facing the prospect of time in federal prison.


Gwenn Gooding was portrayed in recent sentencing memorandums as someone who abused her position of trust and is unlikely to fully repay what was stolen, but also a working class mother with good character who made poor choices to support her family.

Gooding admitted stealing more than $195,000.

The U.S. Attorney’s Office has recommended she receive at least 2 years in prison when sentenced June 26.

“Bank employees, surrounded by cash all day long, should know that there will be a serious consequence to embezzling bank funds, particularly the amount stolen in this case,” Assistant U.S. Attorney Kevin Dooley wrote in court papers.

The embezzlement was uncovered as a result of an audit of the bank branch following severe flooding in September 2011.

Gooding, 43, former head teller; Megan Horton, 54, former branch manager; and Shannon Moore, 38, a former teller, admitted embezzling funds between December 2004 and September 2011. Horton admitted stealing more than $200,000, and Moore admitted to more than $25,000.

Gooding — described by her attorney Randi Bianco as active in community events like the Strawberry Festival and youth soccer and softball leagues — started stealing bank funds after bills began piling up and the family couldn’t make ends meet, Bianco wrote in sentencing papers.

“She used the money to pay bills and buy food for the family. At first, Mrs. Gooding paid the money back to the bank when she received her weekly paycheck, but things got worse,” Bianco wrote.

Bianco said Gooding couldn’t find work after her arrest, has no criminal record and should not receive prison time due to her willingness to pay restitution.

“It is significant that Mrs. Gooding never spent the bank’s money on luxury items, but used it only for living expenses,” she added.

Moore paid $27,000 in restitution before pleading guilty in January. On April 23, she was sentenced to 80 hours of community service and two years of supervised release.

Horton is to be sentenced on May 9. Prosecutors, noting her amount stolen was repaid after she resigned from the bank, have not recommended prison.

But that isn’t the case here, Dooley wrote in Gooding’s sentencing memorandum.

“It can be argued,” he said, “that this defendant’s background made what she did even more explicable and inexcusable.”

Murrieta, California man arrested in alleged embezzlement case

Temecula police detectives arrested a bank employee Thursday afternoon in Vista on suspicion of bilking an 88-year-old woman out of a large amount of money while he worked in Temecula, officials stated in a release.

Authorities identified the suspect as Don Leon Foster, 35, of Murrieta. He was booked at Southwest Detention Center in French Valley on suspicion of embezzling from an elder and was being held there Friday with bail set at $183,000, according to jail records.

The arrest stemmed from an investigation into potential embezzlement at a bank branch in Temecula, Sgt. Kevin McDonald stated in a release. Officers arrested Foster at 4:30 p.m. at his current workplace in Vista and later searched his residence on Mapleton Avenue in Murrieta, the release states.

Federal grand jury charges Ellwood City woman with stealing more than $100,000 from church credit union in Pennsylvania

A federal grand jury has charged an Ellwood City woman with stealing more than $100,000 from a Lawrence County church credit union she used to manage.

Victoria Rozanski, 59, is accused of taking the money “with intent to injure and defraud” from the Ellwood City Holy Redeemer Parish Federal Credit Union between January 2003 and May 2009. She is charged with one felony count of embezzlement of a credit union.

Rozanski declined comment when reached by phone on Wednesday afternoon.

Public records show Ellwood City Holy Redeemer Parish Federal Credit Union has 294 members and assets of less than $1 million. The credit union, which opened in 1935, has no full-time employees.

U.S. Magistrate Judge Maureen P. Kelly issued a summons for Rozanski to appear for an arraignment hearing on May 21.

Former VP at First National Bank of Whitney sentenced to seven years in Texas

A former vice president at the First National Bank of Whitney, who said her gambling addiction drove her to embezzle more than 
$6 million from the Hill County bank, was sentenced Wednesday to seven years in federal prison.
Mary Helen “Murty” Lane, 58, apologized to bank officials for betraying the trust they bestowed on her.
“I’d like to ask for forgiveness, but I actually understand if that is not possible,” she said.
Lane, who worked at the bank for 27 years, pleaded guilty in Waco’s 
federal court in March to theft, 
embezzlement or misapplication by a bank officer or employee during a 10-year period.
Federal officials say she used the money she stole to finance lavish gambling trips to Las Vegas, Oklahoma and Louisiana, to buy sports cars and pay her debts.
Officials reported that in one year, Lane, who occasionally won big, ultimately left $20 million behind at the WinStar World Casino in Thackerville, Okla. That amount includes millions of dollars of winnings.
U.S. District Judge Walter S. Smith Jr. also ordered Lane to pay $6 million in restitution and to be supervised for five years after her release from prison. The judge allowed her to remain free on bond until the Bureau of Prisons determines where she will be placed.
Lane’s attorney, John Floyd, said his client had an “insidious addiction” to gambling. He said she is financially ruined and intends for “every dime she has” from the $47,000 she made from selling her home to go toward restitution payments to the bank.
Floyd tried to earn credit points with the judge before sentencing by saying that bank officials had no idea about the missing funds until she resigned from the bank in January 2012 and sought the help of an attorney.
But the judge cut Floyd short and said pre-sentence reports indicate that bank officials knew of “accounting irregularities” but not how or who had stolen the money.
Floyd argued that Lane deserved credit for cooperating with bank officials and telling them how she was able to accomplish stealing an amount that depleted most of the bank’s assets without detection from officers or auditors.
Removing cash
Federal authorities said in court records that Lane removed large amounts of cash from the vault and then created false bank documents to hide her thefts and to “fool bank employees and bank auditors.”
Bank officers used insurance proceeds, loans and personal cash from board members to keep the bank afloat, officials said Thursday.
Mike Farquhar, president of the bank, asked the judge before he sentenced Lane to consider the magnitude of her actions and the depth of her betrayal, both of which, he said, almost put the bank out of business.
“I would have trusted her with my life at one time,” he said. “All of us considered her a friend. She robbed us over a 10-year period while working with us every day and looking us in the eye.”
Bank board chairman Gene Adams asked the judge to give Lane the “utmost penalty for the dastardly act” that she perpetrated.
A co-worker told an FBI agent that Lane kept so much cash on hand that she went home on a few occasions to get cash when the bank ran out of $100 bills.
Lane retrieved $100 bills from her home and brought them back to use at the bank in exchange for smaller bills, according to court records.
She used the majority of the embezzled money to gamble at casinos in Las Vegas, Oklahoma and Louisiana, court documents state. Lane often gave her co-workers $100 bills, claiming she was a big winner at the casino, records indicate.

Second woman sentenced in credit union embezzling scheme in Pennsylvania

 A former assistant manager of a Lawrence County credit union has been sentenced to 30 months in federal prison and ordered to repay nearly $223,000 for her role in an embezzling scheme that also saw her former boss convicted.
Stacy L. Attisano of 1656 Houk Road, Slippery Rock Township, Lawrence County, will also spend three years on supervised released and must pay the Internal Revenue Service $37,400 in restitution, a federal judge ruled April 19 in U.S. District Court in Pittsburgh.

Attisano pleaded guilty in December to embezzlement and four counts of tax evasion.
In January, another Slippery Rock resident and the credit union's former manager, Holly Cowan of 1846 Fairview School Road, was sentenced to 15 months in prison and also ordered to repay $223,000 to Cumis Insurance Society Inc. of Madison, Wisc., the fidelity bond issuer for the now-defunct Lawrence County School Employee Federal Credit Union, formerly in New Castle.
Cumis claimed in a civil suit that the women embezzled about $811,000 from 2004 through 2009 by steering money into an account through falsified deposits and loan payments.
Neither woman responded to the Cumis' civil suit and default judgements were issued against them last year.
Besides embezzling money, the IRS said Attisano filed false tax returns in 2006, 2007, 2008 and 2009 claiming taxable income far less than what she actually had made.
The women were the credit union's only employees, prosecutors said. After the embezzlement was discovered, the credit union was placed in involuntary liquidation by the National Credit Union Administration board in March 2010.
When it was liquidated, the credit union had $2.6 million in assets and 1,085 members.