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CU System
CU president U. employee indicted in grant funds theft
TALLAHASSEE, Fla. (7/9/10)--A credit union president and a college program director were indicted Wednesday in Tallahassee, Fla., on federal charges in connection with the theft of federal grant money. Eugene Telfair, president of Florida A&M University (FAMU) FCU, Tallahassee, and Robert Nixon, director of the Institute on Policy and Commerce at FAMU, were each charged with conspiracy, theft from an organization receiving federal funds, and embezzlement of funds entrusted to a federally insured credit union (The Tallahassee Democrat July 7). FAMU does not use the credit union for financial services, Sharon Saunders, university spokeswoman, told the newspaper. Telfair and Nixon “conspired to steal approximately $134,253 in funds,” Karen Rhew-Miller, spokeswoman for the U.S. Attorney’s Office, said. The indictment alleges the two men “wrote one another checks to make their taking of the funds appear legitimate.” The U.S. Department of Housing and Urban Development’s Historically Black Colleges and Universities program awarded the funds to FAMU, the paper said. FAMU FCU has $20 million in assets.


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