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News Now

CU System
CU System briefs (03/11/2010)
* ST. PAUL, Minn. (3/12/10)--Steven Lee Olson, 48, of South St. Paul, Minn., pleaded guilty in Minneapolis to robbing the Wakota FCU on Oct. 30 of $1,514. He admitted he robbed five other institutions--all banks in Minnesota and Wisconsin--between Sept. 25 and Oct. 21. He also said he tried to rob a sixth bank in St. Paul on Oct. 20, but the teller refused his demands for money, even though he pointed a handgun at her. He fled without the money. Olson was apprehended after the credit union robbery when a witness followed his car. His sentencing has not been set (Star Tribune March 9) ... * HOUSTON (3/12/10)--A former credit union manager was sentenced Wednesday in a U.S. District Court in Houston to 15 months in federal prison without parole for embezzling more than $56,862 from the former Saint John Vianney FCU (now San Antonio CU). Donna Gonzalez, 40, of Houston pleaded guilty on Oct. 20 to the embezzlement. She used her position to steal from dormant accounts between Sept. 22, 2006 and Feb. 22, 2008. She also was ordered to pay $56,862 in restitution to San Antonio CU. The prison term will be followed by a three-year supervised release (The Police News March 11) ... * MANHATTAN, N.Y. (3/12/10)--Two executives of Mount Vernon (N.Y.) Money Centers, a financial company that administered ATMs and provided armored car and payroll services, were indicted Wednesday on charges they stole $50 million from two credit unions, banks and other institutions. Robert Egan, 64, Bedford, the firm's president and owner, and Bernard McGarry, 50, Yonkers, chief operating officer, were charged with six counts of bank fraud and one of conspiracy. Among the victims cited in the indictment were Actors FCU and ADP FCU, as well as Webster Bank, Bank of America U.S. Bank, and New York Community Bancorp. The indictments said the two used clients' cash from the company's vaults to play the float and co-mingled clients' funds that were supposed to be kept in individual accounts. If convicted, each man faces up to $30 years in prison. (The Journal News March 11) ...


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