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CU System
CU System briefs (10/06/2011)
* WEST MONROE, La. (10/7/11)--(Corrected version.)John Larry Gathright, 38, a financial adviser in West Monroe, La., was arrested and charged with bank fraud and money laundering of funds possible exceeding $1 million in thefts from 11 clients (The News-Star Oct. 5). He was arrested after a man who holds the power of attorney for his 75-year-old mother, reported allegedly suspicious activity in his mother's retirement account. The victim's son alleges more than $200,000 was taken. According to court documents, more than $250,000 had been withdrawn from the victim's checking account between July 2010 and March 2011. According to court records, Gathright was already under investigation at the request of Ouachita Valley CU for allegedly depositing suspicious third-party checks into the credit union … * BARTLETT, Tenn. (10/7/11)--Frank Buckley III, 38, of Arlington, Tenn., was charged with robbing First South Financial CU's Cordova, Tenn., branch on Sept. 27 after a teller recognized him while shopping in the area the next day. The teller's husband wrote down Buckley's license tag number, and gave it to police. Buckley, a fast-food cook, allegedly entered the credit union and slid her a note that said, "No bait, no dye. I have a gun and I will shoot." The robber then lifted his shirt to indicate a pistol stuck in his waistband. When the teller began handing the gunman money from her drawer and reached for a dye pack, the robber raised his eyebrows and again lifted his shirt. The next day, the woman spotted him at a local store, and he left. The teller also identified him from a photo spread, said the court records (The Commercial Appeal Oct. 4) … * GRAND RAPIDS, Mich. (10/7/11)--A former assistant branch manager at Lansing, Mich.-based Case CU was sentenced by a U.S. District judge to two years and three months in a federal prison for embezzling $236,000 from accounts at the $201.3 million asset credit union. Marcie Graham, 31, of Mulliken, Mich., had pleaded guilty to embezzling the funds between 2008 and 2010. Court records indicated she allegedly selected accounts with large balances believing the accountholder of large accounts would be less likely to notice missing funds. One account belonged to a relative, the records indicated. Graham also was ordered to pay $256,333 in restitution (LansingStateJournal.com Oct. 5) … * DUNCAN, Okla. (10/7/11)--Halliburton Employees' FCU (HEFCU), based in Duncan, Okla., announced that as of the end of July, it has reached the $100 million asset milestone. Since 2008, HEFCU has increased its assets by $30 million, the credit union said in a press release. CEO Chris Bower attributed the growth to an increase in share accounts and loans …


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